Global money market funds see big inflows in the week to April 26

Investors turned to global money market funds over concerns about a slowdown in global economic activity and a decline in US companies’ quarterly earnings, with investors buying a net $42.68bn through the product in the week ending 26 April, according to Refinitiv Lipper. US and European money market funds entered the week with net inflows of $47.72bn and $1.89bn, respectively. The inflows have been driven by investors seeking out the relatively safe funds amid worries of a possible recession and concerns about the safety of uninsured bank deposits after the failure of two regional lenders.