Money market outlook 2025

Money market funds are experiencing falling reserves across the US, eurozone, and UK. We look at what 2025 has in store

We go deep into money market developments for 2025, focusing on the US, UK and eurozone

We see a structural tightening trend lingering in the background as the ECB shrinks its balance sheet and drains reserves

Absolute rates continue to be a key draw and could stay this way even if the Fed implements further cuts

Overall liquidity conditions should remain good, with revamped central bank facilities giving access to liquidity at attractive pricing