After slowing from the massive outflows of two weeks ago, the losses of tax-exempt money market funds inched up to $3.37 billion and total assets settled at $387.61 billion for the week ended Feb. 1, according to the Money Fund Report, a service of

This week’s activity comes on the heels of last week’s outflows, which slowed to $2.65 billion in the week ending Jan. 25 following massive outflows of $7.67 billion in the week before.

The average seven-day simple yield for the 497 tax-exempt funds in the report remained unchanged at a record-low of 0.02% for the fourth week in a row, according to the report. The average maturity remained unchanged at 29 days.

In the taxable market, the 1,164 funds this week declined by $16.87 billion and ended at $2.783 trillion for the week ending Feb. 2. By comparison, last week the taxable funds lost $11.11 billion and settled at $2.80 trillion in total assets.

The average seven-day yield for the taxable funds remained at a record low of 0.03%, where it has been since Nov. 24.

Overall, the combined assets of the 1,661 funds in the report settled at $3.171 trillion after their assets declined by $20.23 billion in the week ending Feb. 2. The week before saw outflows of $13.75 billion as the funds ended with $3.191 trillion in total assets.

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