CNBC writes "Investors are hiding out in cash: Assets in money market funds surge past $​3 trillion," which tells us, "Cash is becoming the king as investors flee volatile stock markets. Assets in money market mutual funds have swollen to $​3.​066 trillion, their highest level since March 2010, driven by retail investors. The money fund assets had spent much of the last decade in the $​2 trillion range but tracked above $​3 trillion again in mid-​December, coinciding with a late-​2018 market downturn that resulted in the S&​P 500 posting a 6.​2 percent drop for the year, it'​s worst showing in a decade." The article continues, "Sean Collins, chief economist at the Investment Company Institute, which tracks the data, said the move could reflect a combination of factors: Investors are wary about the stock market volatility, but higher short-​term interest rates are also making money market funds more attractive for those who want a short-​term asset. Money market funds have long been considered as safe as cash savings accounts at banks.... Nearly three-​quarters of the $​183 billion that has flowed into money market funds since the end of the third quarter of last year was to retail funds, not institutional, according to ICI data."

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