Investors have poured $756 billion into cash funds this year – BofA

LONDON (Reuters) – Investors have poured $756 billion into cash funds this year, Bank of America said in a note on Friday, attracted by juicy yields and driven by concerns about banks. The rush into money market funds continued in the week to Wednesday, with $23.1 billion flowing into the cash-like instruments, according to BofA, which cited figures from financial data company EPFR. Rising interest rates have pushed up the yields available on money market funds, which are mutual funds that invest in highly liquid short-term debt, such as that issued by governments. The collapse of a handful of…

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