Bank of America
- Investors are increasingly taking advantage of risk-free interest rates above 5%.
- Money market funds are on track to take in a record $1.5 trillion this year, according to Bank of America.
- "Nothing screams 'bear market in conviction' more than money market funds seeing $1 trillion of inflows," BofA said.
Our Chart of the Day is from Bank of America, which shows that money market funds are poised to see record inflows this year.
According to the bank, money market funds are on track to attract $1.5 trillion in new assets this year as investors take advantage of high interest rates.
"Nothing screams 'bear market in conviction' more than money market funds seeing $1 trillion of inflows," Bank of America's Michael Hartnett said in a Friday note.