{"id":1484163,"date":"2024-08-16T20:40:00","date_gmt":"2024-08-17T00:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1484163"},"modified":"2024-08-16T20:40:00","modified_gmt":"2024-08-17T00:40:00","slug":"money-market-fund-assets-hit-record-highs-banks-see-large-deposit-outflows-as-stocks-crashed","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/money-market-fund-assets-hit-record-highs-banks-see-large-deposit-outflows-as-stocks-crashed\/1484163\/","title":{"rendered":"Money-Market Fund Assets Hit Record Highs, Banks See Large Deposit Outflows As Stocks Crashed"},"content":{"rendered":"

Money-Market Fund Assets Hit Record Highs, Banks See Large Deposit Outflows As Stocks Crashed<\/span><\/p>\n

\n

As stocks continued to crash last week, money-market funds saw a second week of significant inflows (+$28.4BN)<\/strong> which together with the prior week’s $52.7BN, pushed total MM assets under management to a new record high of $6.216 TN…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

And while bank deposits also saw (huge) inflows the prior week, the week-ending 8\/7 saw seasonally-adjusted (SA) US bank deposits plunge $77BN – the biggest weekly drop since Tax Day in April…<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Non-seasonally-adjusted (NSA) deposits also tumbled (by $74BN)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Excluding foreign deposits, US bank domestic deposits (SA and NSA) plunged as stocks tumbled (-$70BN and -$78BN respectively)…<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

On an SA basis, large banks saw $73.5BN of deposit outflows (the biggest since march 2023 – SVB!)<\/strong> and small banks $3.5BN on inflows. On an NSA basis, large banks suffered an $82BN deposits drawdown while small banks saw $4BN in inflows…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Fiittingly, on the other side of the ledger, bank loan volumes plunged last week (driven by a $17.6BN drop in loans at large banks <\/strong>offset very modestly by a $0.8BN increase in loan volumes at small banks)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Finally, we note that US equity market cap rose this week while bank deposits at The Fed remained flat…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Will this historically-strong relationship ever re-couple?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 08\/16\/2024 – 16:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/mm-0<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Money-Market Fund Assets Hit Record Highs, Banks See Large Deposit Outflows As Stocks Crashed As stocks continued to crash last week, money-market funds saw a…<\/p>\n","protected":false},"author":0,"featured_media":1484164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1484163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1484163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1484163"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1484163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1484164"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1484163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1484163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1484163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}