Investor dash for cash pumps U.S. money market funds to record high - Bofa

LONDON, March 10 (Reuters) - Assets invested in US money market funds have reached a new all-time high of $4.9 trillion this year, as soaring short-term interest rates have sent investors rushing into cash, BofA Global Research said on Friday. Money market funds invest in highly liquid near-term instruments such as cash and short term debt securities.

So far this year, invstors have put $192 billion into cash, adding $18.1 billion in the week to Wednesday, Bofa said. They invested $68.1 billion in cash a week earlier, more than at any time since the depths of the pandemic in 2020.

Elsewhere there were weekly inflows to bond funds of $8.2 billion, and outflows from equities of $500 million and from gold, of $4 million.

(Reporting by Alun John; Editing by Amanda Cooper)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Investor dash for cash pumps U.S. money market funds to record high - Bofa

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio