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Investors put $538 billion into cash funds over eight weeks – BofA
Investors have moved $538bn into money market funds over the past eight weeks as they withdraw money from bank deposits after Silicon Valley Bank's collapse. The move followed shockwaves that went across markets in mid-March and called into question the safety of US bank deposits. Bank of America's analysts said that the catalyst for the big shift to cash came from $500bn of outflows from commercial bank deposits over the past five weeks, and central bank interest hikes that pushed up the yields on short-dated debt and money market funds, making them more attractive to investors.