Tax-exempt money market funds posted their first decline since mid-December as outflows of $4.35 billion trimmed total net assets to $329.91 billion for the week ended Jan. 17, according to the Money Fund Report, a service of iMoneyNet.com.

The drain more than offsets the previous week’s $2.098 billion gain, which boosted assets to $334.26 billion and marked the funds’ fourth consecutive week of inflows.

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