❕ Money market funds saw record outflows of $172.2 billion last week.
This outflow is 320% above the average April weekly outflow of $41 billion over the past four years. The four-week moving average of withdrawals dropped to $30.0 billion, the largest since early 2024.
Some of the withdrawn funds moved into other assets, with $11.3 billion flowing into equity funds and $7.9 billion into bond funds. Gold and crypto funds each attracted $1.2 billion in inflows.
The outflows were likely influenced by tax-related cash withdrawals, as April typically sees increased cash movements for tax payments.
@Business_Forages
This outflow is 320% above the average April weekly outflow of $41 billion over the past four years. The four-week moving average of withdrawals dropped to $30.0 billion, the largest since early 2024.
Some of the withdrawn funds moved into other assets, with $11.3 billion flowing into equity funds and $7.9 billion into bond funds. Gold and crypto funds each attracted $1.2 billion in inflows.
The outflows were likely influenced by tax-related cash withdrawals, as April typically sees increased cash movements for tax payments.
@Business_Forages