A $5.6 trillion ‘mountain of money’ will help fuel a year-end rally for the stock market
Investors are putting an increasing amount of their cash into money market funds.
The multitrillion-dollar flood into the funds comes as risk-free interest rates top 5%.
Bank of America believes this “mountain of money” could help fuel a year-end stock market rally.
Our Chart of the Day is from Bank of America, which shows that investors are still piling into money market funds amid a period of rising interest rates.
The chart shows that net assets of all money market funds has…