The size of the US currency market funds is at a record high, with strong demand for cash-like assets.

Due to the uncertainty of the Federal Reserve's monetary policy path stimulating demand for cash-like assets, investors have pushed the total size of U.S. money market funds to a record high of $8.281 trillion. According to the latest data from Crane Data LLC, approximately $66 billion flowed into the money market fund industry in the week ending May 28. Around $41 billion of this inflow came on Thursday, as investors adjusted their portfolios before the end of the month. So far this year, money market funds have attracted approximately $172 billion in funds. According to Crane Data, as of May 28, the 7-day average yield for U.S. money market funds was 3.34%.