Investors pull out of money market funds for fourth straight week

The big picture: Money market funds had seen their assets rise to nearly $5 trillion as investors pulled out of riskier plays like stocks and commodities at a record pace over the preceding months.

• Money market funds have seen a total of $104.74 billion of outflows in the past four weeks.

Yes, but: Until this week, funds were largely flowing into bonds rather than stocks. ICI data and Refinitiv data show that equity funds had seen $38 billion of outflows in the weeks ended May 13 to June 3.

• The funds saw $13.1 billion of inflows for the week ended June 10, the last week for which ICI equity fund data is available.
• Data from Refinitiv Lipper shows equity funds saw $25.5 billion in outflows for the week ending June 17.