U.S. money market fund assets hit a new record of $5.8 trillion this week as yield-hungry investors continued to turn to the short-term debt securities - a stark contrast to the 2011 debt- ceiling standoff when there were large outflows from the funds.
Money market mutual funds - a key source of short-term corporate and municipal funding - have enjoyed $614.8 billion in net inflows so far this year, with $48 billion of those in the past week as of Monday, according to Crane Data.
The influx comes despite growing concerns that the White House and Republican lawmakers may not reach a compromise to raise the $31.4 trillion debt ceiling ahead of a June 1 deadline, pushing the country into a devastating default.
Although money market funds are considered safe havens, they have experienced runs during previous crises and government officials and ratings agencies have warned they may continue to be vulnerable to rapid redemptions in times of stress.
https://finance.yahoo.com/news/us-money-market-fund-assets-040321985.html
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