Markets

Reversing a trend of outflows, tax-exempt money market funds raked in $3.33 billion to end the week of May 9 with $309.95 billion in total net assets, according to the Money Fund Report, a service of iMoneyNet.com.

The “magic” 5% tax-free yield is ­sustaining strong demand from retail investors.

These days there seems to be a lot of information available to nervous retail investors about the municipal bond market. Maybe even too much.

CHICAGO — Last year’s dire predictions that a coming record wave of expiring bank credit facilities would tax the municipal market did not come to fruition in the first quarter, according to a new report from Moody’s Investors Service.

New issuance remains sparse with a light calendar this week on the heels of last week’s slim pickings.

In a quick shift, net outflows from tax-exempt money market funds fell to $302.8 million for the week ended May 2, according to the Money Fund Report, a service of iMoneyNet.com.

After the billion-dollar Chicago financing for O’Hare International Airport temporary boosted supply and lured retail investors to its 6% yields last week, volume will again recede to its previously skimpy state with few sizable deals vying for investors’ attention this week.

In what marks the largest outflow activity so far this year, tax-exempt money market funds lost a hefty $5.17 billion and total net assets fell to $306.93 billion for the week ended April 25, according to the Money Fund Report, a service of iMoneyNet.com.