"Money market funds get boost from jittery investors" writes The Christian Science Monitor. It says, "Money market funds gained $69 billion in August, while stock and bond funds lost $32 billion. Besides money market funds, investors put $1 billion into ETFs. Investors sought refuge from the market's volatility in August, withdrawing money from stock mutual funds and bond funds alike. The retreat from stock funds was unusually heavy for the third consecutive month, marking a renewed aversion to risk.... Money-market funds: A net $69 billion was deposited into these funds, designed to be safe harbors where investors can temporarily park cash and quickly access it when needed. That proved a strong draw in August, in contrast with July. In that month, investors withdrew a net $113 billion, due to fears that Congress might fail to reach an agreement to lift the government's debt ceiling. Investors were scared off because nearly half of the $2.6 trillion that money funds hold is invested in Treasury bonds."
