​ Money Fund Assets Explode In First Week of July With New Record High. The Investment Company Institute reports that money market mutual fund assets jumped by $​23.​13 billion to a record $​2.​560 trillion in the latest week. Year-​to-​date, money funds have risen by $​110 billion, or 7.​5%; over 52 weeks, money funds have grown by a massive $​420 billion, or 19.​6%. The first week in a new quarter almost always sees strong inflows as dividends, bond coupon payments, and freshly budgeted money is deposited in cash. But cash inflows continue to surprise on the upside. While cash flow factors are always difficult to pin down, we believe money fund assets are being boosted by a renewed disintermediation of bank deposits. Strong start-​of-​quarter inflows of course push yields down. The Crane 100 Money Fund Index fell by one basis point to 4.​96% yesterday.

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