Photo: Robert Nickelsberg/Getty Images

Investors pulled just over $33 billion out of money market funds for the week ended June 17, according to data from the Investment Company Institute.

Why it matters: It was the fourth straight week of outflows for the safe-haven vehicle typically used by investors as savings accounts for cash holdings.

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.

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Trump's failing culture wars

Data: Google; Chart: Naema Ahmed/Axios

President Trump built his political brand by stoking the nation's culture wars, but search data is showing us how much harder it's been for him to replicate that success while running against another white man in his 70s — and while there's a coronavirus pandemic.

The big picture: Google Trends data shows Trump's "Sleepy Joe" name-calling isn't generating nearly the buzz "Crooked Hillary" (or "Little Marco") did in 2016. Base voters who relished doubting President Obama's birth certificate aren't questioning Biden's.

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15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.