US money market fund assets reached $6 trillion for the first time – Kommersant
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US money market fund assets top $6 trillion for first time, reports Bloomberg citing data from the Investment Company Institute.
As the agency notes, in the last seven days of January alone, the volume of fund assets increased by $41.7 billion. Despite the fact that investors withdrew their funds from funds focused on highly liquid assets in the previous two weeks, overall the volume of investments in these funds gradually grew since the US Federal Reserve began a long campaign to raise its key rate in 2022.
Although central banks in major economies have signaled the prospect of rate cuts at recent meetings, Fed Chairman Jerome Powell said on Wednesday that investors should not expect interest rates to be cut in March.
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