US retail money market fund assets reached record $3.05 trillion in June, driven by elevated risk-free yields attracting retail capital away from riskier assets.
Macro & Markets ·
US retail money market fund assets reached $3.05 trillion in June, up $202 billion from the prior year, as investors sought elevated risk-free yields offering an average of 3.57%. The holdings have grown at a 14% compounded annual growth rate since 2019 and more than tripled since 2022, surpassing the pandemic-era peak by a factor of two.