Assets of tax-exempt money market funds declined by $2.93 billion and ended at $414.96 billion for the week ending Oct. 26, according to the Money Fund Report, a service of iMoneyNet.com.
The average, seven-day simple yield for the 505 tax-exempt funds in the report this week held at 0.05% for the third week in a row, equaling an all-time low first set on Sept. 14. The average maturity remained unchanged at 32 days.
Tax-exempt money market funds decreased by $2.70 billion and ended at $417.89 billion for the week ending Oct. 19.
In the taxable market, assets of the 1,178 money funds in the report rose by $6.15 billion and finished at $2.927 trillion for the week ending Oct. 27. Taxable money fund assets declined by $38.04 billion to $2.921 trillion for the week ending Oct. 20.
The average seven-day yield for the taxable money funds dropped one basis point to a record-low 0.04% after spending the previous four weeks at 0.05%.
Overall, the combined assets of the 1,683 money funds in the report grew by $3.22 billion and settled at $3.342 trillion for the week ending Oct. 27. The previous week, the combined assets of 1,682 money market funds fell by $40.74 billion and closed at $3.339 trillion.
