May has been a stellar month for tax-exempt money market funds.

For the fourth week in a row, the amount of money in such funds has surged to a new record high, settling at $520.9 billion for the week ending May 26, according to the Money Fund Report, a service of of Westborough, Mass.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.