Pensions & Investments writes that "Managers find money market funds no longer a drain." It says, "Money market funds are rebounding after years of being unprofitable for managers, due in part to rising short-term interest rates and recently implemented regulations. And thanks to those regulations put in place a few years ago, managers and other industry observers remain optimistic that money market funds will be a good source of revenue in the years to come -- provided, of course, that the industry doesn't enter another zero-rate environment." It quotes Callan LLC's Nathan Wong, "As recently as a few years ago money market funds were negative yielding. So, to hear them come around so soon is a bit surprising.... We could all speculate on how long this could last but we're in a Goldilocks environment for money market funds. Yield is more attractive." The article adds, "Analysts with whom P&I spoke remain bullish on money market funds even with increased expectations the Federal Reserve will cut interest rates this year."

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