Cash flowed into municipal money market funds for a second week in a row, though noticeably less than the billion dollars the industry recouped in the previous week, according to the Money Fund Report, a service of iMoneyNet.com.
For the week ended July 11, the assets of tax-exempt money funds rose by $608.2 million and ended with $304.07 billion, following inflows of $1.39 billion the week before, when the funds settled at $303.46 billion.
The average, seven-day simple yield for the 477 tax-exempt reporting funds remained at 0.01% for a second week, while the average maturity remained at 28 days.
The 1,133 taxable money funds in the report accumulated inflows of $24.80 billion and finished with $2.372 trillion for the week ended July 12.
That figure was more than double the outflows of last week, when assets decreased by $11.36 billion to $2.347 trillion.
The seven-day yield for the taxable funds fell to an all-time low of 0.01%, while the average maturity was unchanged at 40 days.
Overall, the combined assets of the 1,610 reporting money funds grew by $25.41 billion to end the week of July 12 with $2.676 trillion.
The previous week saw outflows of $9.97 billion, ending with $2.651 trillion.