Fitch Ratings recently published its "U.​S. Money Market Funds: December 2020 Dashboard." They explain, "Total taxable money market fund (​MMF) assets decreased by $​22 billion from Nov. 20, 2020 to Dec. 22, 2020, according to iMoneyNet data. Prime MMFs lost $​28 billion in assets during this period, slightly offset by $​6 billion increase in government MMF assets. Since prime assets peaked on March 5, 2020, prime MMFs have lost $​264 billion, partially driven by flight-​to-​quality positioning and managers exiting the space." The dashboard tells us, "Prime and government MMFs increased allocations to repurchase agreements in November by $​13 billion and $​84 billion, respectively, partially driven by stability in the market following the U.​S. election. This is a reversal of $​64 billion of repo outflows from Aug. 31, 2020 to Oct. 31, 2020. Over this period, total taxable MMFs increased their allocation to Fixed Income Clearing Corporation, the top repo counterparty during the month, by $​53 billion."

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