U.S. money market fund inflows have topped $280 million over the past two weeks, as many investors pull their bank deposits, according to a report.
The Financial Times reported that more than $273 billion has flooded into money market funds this month, for the biggest month of inflows since the height of the pandemic in 2020, according to data provider EPFR.
Investment banks like Goldman Sachs Group (GSG), JPMorgan Chase, and Fidelity were labeled the biggest winners by the report, as investors started to pour cash into money market funds, after the collapse of three regional U.S. banks and the bailout of Credit Suisse and First Republic in March raised concerns about the safety of bank deposits….