Despite predictions of its demise earlier this year, cash remains a powerhouse in the financial landscape. As the Federal Reserve postpones interest rate cuts, a robust influx of investment is evident in money-market funds, with investors adding a staggering $128 billion since the year’s start. Corporate treasurers are also on a cash accumulation spree, holding a record $4.4 trillion by the end of the third quarter. This trend is further amplified by the market’s seamless absorption of over $1 trillion in Treasury bills since mid-2023, signaling not just the resilience but also the potential for further growth in cash holdings.
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