As Interest Rates Rise, Here's What Money Market Investors Should Know [Forbes]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Forbes
Investors are holding cash at a record level, with $6.1 trillion held in money market funds as of the beginning of April. Should longer-term bond yields move higher than money market rates, or if money market rates begin to move lower, the record flow into money market funds may find a new home in bonds. Money market funds assets reached a record $6.1 trillion at the beginning of April. How did we get here? Interest rates are on the rise again, with the yield on the benchmark 2-year Treasury once again approaching 5% and the yield on the benchmark 10-year Treasury pushing over 4.5%. Recent inflation data, such as the Consumer Price Index, has not been supportive of the Fed's desired narrative of an inflation rate on the decline. Additionally, inflation expectations derived from swaps and bond market data are forecasting the inflation rate will remain above the Fed's target of 2% for a while. As a result, there has been a reassessment of the future path of the Fed's primary mone
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