Money market funds see surge in cash inflow amid financial uncertainty.

Money market funds saw their largest weekly inflow of cash since April 2020, with US funds attracting $120.93 billion in the week up to March 15. The rise was driven by fears over the collapse of Silicon Valley Bank, Signature Bank, and concerns surrounding Credit Suisse. Total assets rose to a record $5.01 trillion, with government funds leading the increase. Signature Bank was shut down to protect consumers and the financial system following the collapse of SVB, while Credit Suisse said it would borrow up to $54 billion from the Swiss National Bank.