Continuing the recent outflow activity, tax-exempt money market funds lost $2.55 billion and finished with $377.04 billion for the week ending March 8, according to the Money Fund Report, a service of iMoneyNet.com.
The decline follows $2.15 billion of outflows last week, when the funds closed with $379.59 billion.
The average seven-day simple yield for the 499 tax-exempt funds reporting remained unchanged at an all-time low of 0.02% for the second week in a row, while the average maturity increased by one day to 28 days compared to last week.
Meanwhile, the assets of the 1,166 taxable funds fell by $28.98 billion and closed at $2.689 trillion, following outflows of $27.67 billion the previous week, when the funds settled at $2.718 trillion.
The average seven-day simple yield for the taxable funds also remained in record-low territory at 0.02% for the fifth consecutive week.
Overall, the combined assets of the 1,665 funds in the report saw outflows of $31.54 billion this week and ended with $3.066 trillion in total assets, following $29.82 billion of outflows the week before when they closed with $3.098 trillion in total assets.
