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Why have money fund returns been falling recently?

This is normal.

First, the yield of money funds changes with changes in money market interest rates.

Recently, as money market interest rates have declined, the yields on money market investments have also declined.

Secondly, the market value of monetary funds is mainly reflected in the function of cash management.

Generally, the relative return rate is higher at the end of each year and before the Spring Festival, and will gradually fall during other times.