Bloomberg's ETF analyst says the $8 trillion parked in money market funds stays put until rates break below 3%, so duration bets keep losing to T-bills.
Cash is the new Bond Allocation.. who needs duration when $BIL is outperforming 87% of bond ETFs this year and 83% over five years. This is why money market funds are inflow machines and have $8t in aum and don't look for any of it to leave until rates get below 3%. via https://t.co/7twya54Xj4
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