Money market funds have pulled in $322 billion over the past six months, the fastest pace since the financial crisis.
Investors are flocking to the relative safety of money market funds at the highest level since the financial crisis-era collapse of Lehman Brothers in 2008. On the bright side: That was a period which preceded the buying era of a lifetime for stock market participants. In March 2009, Wall Street kicked off a bull market, still intact, that would break records for longevity.
Facing a constant drumbeat of headline risk, investors have headed to the mattresses as a way protect cash until the storms clear.
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