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- US money-market funds just saw their assets drop for the first time since early March, snapping a trend of record inflows.
- It's also the biggest such fall since July 2020 as US taxpayers were due to file their taxes in the past week, according to Bloomberg.
- Money-market funds saw large inflows in recent months as high yields and the banking jitters fueled a flight of money into them.
US money-market funds just saw their first outflows since early March, snapping a multi-week trend of record inflows that was driven by depositors migrating cash out of banks amid the sector's worst turmoil since 2008.