U.S. Retail Money Market Fund Assets Hit Record $3.05 Trillion

U.S. retail money market fund assets jumped $202 billion year over year in June to a record $3.05 trillion.
Since 2022, retail money market fund assets have more than tripled and are now twice as large as the peak recorded following the 2020 pandemic. Assets have grown at a 14% compounded annual growth rate since the start of 2019.
The average money market fund yield is currently 3.57%, according to the Crane 100 Money Fund Index. Retail investors are taking advantage of elevated risk-free yields.