Tax-exempt money market funds regained all of last week’s losses — and then some — as $2.98 billion of inflows brought total net assets to $309.55 billion for the week ended June 6, according to the Money Fund Report, a service of iMoneyNet.com.
The heavy influx arrived on the heels of $2.55 billion of outflows the previous week, when net assets settled at $306.57 billion.
This week, the average seven-day yield for the 478 tax-exempt reporting funds remained at 0.02% for the fourth straight week, while the average maturity fell one day from last week to 23 days.
Among the 1,135 taxable funds in the report, assets rose by $12.92 billion to $2.409 trillion for the week ended June 7. The week before, taxable assets slipped to $2.396 trillion after $19.21 billion fled the funds.
The average seven-day yield for all taxable funds also remained at 0.02%, for the 10th consecutive week. The average maturity fell one day to 44 days.
Overall, the combined assets of the 1,613 reporting money funds increased by $15.89 billion to $2.718 trillion in the week ending June 7. The week before, the funds lost $21.76 billion and total net assets dropped to $2.702 trillion.
