Fitch Ratings published, "U.​S. Money Market Funds: January 2021," which tells us, "Assets Decline Slightly: Total taxable money market fund (​MMF) assets decreased by $​1 billion from Dec.​16, 2020 to Jan.​15, 2021, according to iMoneyNet data. Prime MMFs lost $​5 billion in assets during this period, offset by a $​3 billion increase in government MMF assets. As seen in the top left chart on page 2, total MMF assets have been steadily declining since peaking on May28, 2020, partially driven by the low rate environment. Prime MMFs Increase Exposure to Repos: Prime MMFs continued to increase allocations to repurchase agreements (​repos) in December, partially driven by stability in the market following the U.​S. presidential election. Allocations increased by $​50 billion from Oct. 31, 2020 to Dec. 31, 2020, while agency and U.​S. Treasury allocations decreased during the period by $​3 billion and $​40 billion, respectively, according to Crane Data." In other news, a release entitled, "Federated Hermes, Inc. reports fourth quarter and full-​year 2020 earnings," says, "Federated Hermes will host an earnings conference call at 9 a.​m. Eastern on Jan. 29, 2021. Investors are invited to listen to the earnings teleconference by calling 877-​407-​0782 ... prior to the 9 a.​m. start time. To listen online, go to the Investor Relations section and the Analyst Information tab of FederatedHermes.​com at least 15 minutes prior to register and join the call." Watch for coverage in our Crane Data News for Monday.

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