Almost $90bn poured into US money market funds in the first half of August, as investors sought to lock in attractive yields that could outlast an expected interest rate cut by the Federal Reserve next month.
Money market funds, which hold cash and short-dated assets including government debt, pulled in net inflows of $88.2bn between August 1 and August 15, according to flow tracker EPFR — the highest figures for the first half of a month since November last year.
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