BREAKING: Retail money market fund assets rise to a record $2.25 trillion, up +$270 billion YoY. Retail money market fund assets are now on track for their 3rd-consecutive annual surge. Since the start of 2023, holdings have more than doubled. Over the last 8 years, retail money market fund assets have grown +15.0% per year, on average. The average yield is currently 3.57%, according to the Crane 100 Money Fund Index, which tracks the 100 largest money market funds. Retail is capitalizing on risk-free yields.(The Kobeissi Letter)