Investor caution prompts global money market fund inflow
Global money market funds experienced their highest weekly inflows in nearly six months, with investors cautious about the health of the U.S. economy and concerned that further rate cuts this year could signal deeper economic troubles. Investors bought safer money market funds totaling about $98.32 billion, LSEG Lipper data showed, marking their largest weekly net purchase since April 3. A weak consumer sentiment report last week raised concerns among investors about the health of the labor market, prompting worries that the Fed's rare 50 basis point rate cut the previous week was in response to a sharp economic slowdown.