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The assets of the US money market fund have reached a record high of $6.59 trillion.
The data from Golden Ten on November 8th, the size of the US money market fund assets reached a record high. Faced with the Fed entering a rate-cutting cycle, investors continue to flock to such assets in search of relatively higher returns. Data released by the Investment Company Institute (ICI) shows that as of the week ending November 6th, approximately $79.5 billion flowed into US money market funds, pushing total assets to $6.59 trillion. The inflow of funds comes just before the Fed's decision on Thursday, with the Fed expected to cut interest rates by 25 basis points.