Federal Funds Rate: MSAXX's yield is closely tied to the Federal Reserve's benchmark rate. Increases in the Fed Funds Rate typically lead to higher MSAXX yields, potentially increasing demand and price

Treasury Bill Yields: As a money market fund investing heavily in short-term government securities, MSAXX's price reflects fluctuations in Treasury Bill yields. Higher T-bill yields generally push MSAXX's yield up

Demand for Short-Term Investments: Overall demand for safe, liquid assets like money market funds influences MSAXX's price. During periods of economic uncertainty, demand rises, possibly affecting price

Credit Risk Perceptions: Although MSAXX primarily holds high-quality securities, changes in perceived credit risk within the money market can affect demand and, consequently, its price, albeit minimally

Fund Management Fees: The expense ratio charged by the fund manager impacts the net yield offered to investors, potentially affecting attractiveness and impacting the price over time