I have noted in recent blog articles the fact that investment flows into ETFs and equity mutual funds have been strongly negative, i.e., outflows. Some of the equity outflows have found their way into fixed-income ETFs and mutual funds. Another large beneficiary though has been money market funds. The below chart shows assets in money market mutual funds as reported by ICI as of mid-week last week. Money market assets began to trend higher during the volatile market environment in 2018, and the money market inflow has picked up the pace in 2019, with assets