💵 Cash is king

Assets in US money market funds have reached a record $7.7 trillion, more than tripling in just 8 years.

🟡 Low-risk yield beats sitting in equities for many.

🟡 Capital inflows accelerated after 2022’s rate hikes.

🟡 Investors are parking cash, not chasing risk.

Liquidity is piling up on the sidelines. The question is when and into what it flows back.