The U.S. banking industry exploded one after another, setting off a wave of deposits, and investors transferred their deposits to money market funds.

(Associated Press)

[Financial Channel/Comprehensive Report] The U.S. banking industry has fallen into crisis due to the successive mine explosions of many banks, and the market confidence has been greatly lost. In the past two weeks, investors have switched their tracks and transferred their deposits to money market funds. According to statistics, as of Yesterday, US money market funds poured in US$286 billion (approximately NT$8.68 trillion) in March.

According to data from Emerging Portfolio Fund Research (EPFR), investors poured cash into U.S. money market funds, totaling $286 billion, the largest monthly inflow since the outbreak of Wuhan pneumonia (new coronavirus disease, COVID-19), of which The biggest winners are Goldman Sachs, JPMorgan Chase and Fidelity (FIL).

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The data pointed out that Goldman Sachs' monetary fund has received US$52 billion (approximately NT$1.57 trillion), an increase of 13%, while JPMorgan Chase's funds have inflowed nearly US$46 billion (approximately NT$1.39 trillion), and Fidelity funds have inflowed Nearly 37 billion U.S. dollars (about NT$1.12 trillion).

Money market funds hold low-risk, highly liquid assets and are a popular choice for investors during times of market instability.

A year of aggressive rate hikes by the U.S. Federal Reserve has provided these funds with their best yields in years.

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