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Data: Investment Company Institute; Chart: Andrew Witherspoon/Axios

Institutional investors revived their flight to safety last week, pushing inflows to money market funds to all-time-high levels, largely unaccompanied by retail investors.

What it means: Money market funds saw inflows of $108.70 billion for the week ending April 22, almost all of which came from professionals who added $108.26 billion.

  • For institutional investors, it was the fifth highest weekly total ever recorded.
  • Four of the five largest weekly inflows by institutional investors to money market funds have come since March 18, data from the Investment Company Institute show.
  • Retail investors have held firm, as not a single week in April has registered in the top 40 highest weekly inflows.

The big picture: A record $4.65 trillion is now held in money market funds. That's around $700 billion more than the peak level seen during the 2007–2009 global financial crisis.

  • Further, the share of that total held by professional money managers has increased to 67%.

Go deeper: Investment professionals are selling while mom and pop buy the coronavirus dip

Go deeper

Updated Oct 7, 2020 - Health

World coronavirus updates

Expand chart
Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand now has active no coronavirus cases in the community after the final six people linked to the Auckland cluster recovered, the country's Health Ministry confirmed in an email Wednesday.

The big picture: The country's second outbreak won't officially be declared closed until there have been "no new cases for two incubation periods," the ministry said. Auckland will join the rest of NZ in enjoying no domestic restrictions from late Wednesday, Prime Minister Jacinda Ardern said, declaring that NZ had "beat the virus again."

Trump renomination vote to be held in private, with no media present

President Trump at the White House on Friday. Photo: Alex Wong/Getty Images

The vote on renominating President Trump will be held in private this month with no media present because of coronavirus "restrictions and limitations" in place in North Carolina, a Republican National Convention spokesperson told AP Saturday.

The big picture: The vote is due to take place at the convention in Charlotte, North Carolina, on Aug. 24. When Trump announced on July 23 that he canceled plans to hold the convention in Jacksonville, Florida, over COVID-19 concerns, he said he'd give an acceptance speech "in a different form."