Looks like very good news for consumers, since "customers continued to move their money in search of higher returns." The $60B went out in the January 1st to M

Looks like very good news for consumers, since "customers continued to move their money in search of higher returns." The $60B went out in the January 1st to March 31st period, according to the article -- so, not all at once. And it doesn't seem to be as bad as the headline makes it sound: While its bank deposits declined, the size of Schwab’s money market funds increased 150 per cent to $358bn from $143bn in the first quarter of 2022, and is up almost 30 per cent from the end of last year. UBS analyst Brennan Hawken wrote that the Schwab results were “not as ugly as feared”. Shares in the broker closed up almost 4 per cent. [The article came out six days ago.]