If you want to know just how bad things are out in the market right now just look at the three month T-bill. This means that companies and individuals feel more comfortable losing some money to the government than investing in anything.
The alternative is to stay in cash, however that’s not practical and if the bank goes under you lose it. So the alternative is a T-Bill with a negative interest rate.
Geez that’s amazing. Imagine what the money market funds are like right now. Throw in regular management fees and expenses on the account plus the fact that you might be in T bills and you’re now losing money every month. Of course the other alternative is to buy stocks and right now that’s not a great place to be.