US MMF investments near $7trn amid short-term yield chasing
Surging inflows led some managers to turn to Fed’s RRP facility for risk-free cash allocation
US money market funds’ (MMFs) investments hit record levels for the fourth consecutive month in September, with some managers increasingly relying on the US Federal Reserve’s overnight reverse repo (RRP) facility to allocate their growing cash piles.
According to data from the Office of Financial Research (OFR), total investments across 75 reporting managers grew by 3.4%, or $228.9 billion
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