US Bank Deposits Plunged Last Week As Fed Rescue Funding Usage Hits New Record High

For the first time in 6 weeks, US money market funds saw outflows (admittedly a tiny $1BN)… Source: Bloomberg The outflows were driven by institutional funds – the first in 6 weeks. Retail funds saw inflows for the 18th straight week.. Source: Bloomberg Also of note is that usage of The Fed’s emergency funds rose […] Source