For the first time since early October, tax-exempt money market funds generated inflows for the week ending Dec. 7 as total assets rose by $2.59 billion and settled at $408.73 billion for the week ending Dec. 7, according to the Money Fund Report, a service of iMoneyNet.com.

The last time tax-exempt money ­market funds experienced inflows — albeit moderate ones — was when $643.2 million came in the week ending Oct. 5.

The funds have seen nothing but outflows ever since, including last week when outflows of $2.09 billion caused the funds to settle at $406.15 billion.

This week, the average seven-day yield for the 500 tax-free money market funds in the report had an all-time low of 0.03%, dipping one basis point from last week’s previous low.

The average maturity remained unchanged at 30 days.

Meanwhile, among the 1,172 taxable funds, total assets also increased by $10.41 billion, ending at $2.879 trillion for the week ending Dec. 8, while the average seven-day yield for taxable money funds remained at a record-low 0.03% for the third week in a row.

Last week, taxable funds fell $21.90 billion and settled at $2.868 trillion in total assets.

Overall, the combined assets of the 1,672 money market funds in the report rose by approximately $12.99 billion and settled at $3.288 trillion for the week ending Dec. 8.

Last week, tax-exempt money market funds finished with $3.275 trillion after seeing outflows of $23.98 billion for the week ending Dec. 1.

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