US Money Market Assets Reach $8.02 Trillion, ICI Says

The headline number matters less than what it represents: a very large pool of cash sitting in short-term instruments rather than being deployed further out the risk curve. That stock of money is a standing source of potential rotation, and the ICI weekly series is one of the cleaner ways to track whether it is building or draining. Whether this level holds, or begins to reverse, is the open question worth watching.