Both tax-exempt and taxable money market funds lost cash in the weeks ending Nov. 1 and 2. Tax-exempt funds saw noticeably trimmed outflows compared with last week, while the taxable losses are in stark contrast to the previous week's short-lived period of inflows.
According to the Money Fund Report, a service of iMoneyNet. com, the 487-reporting tax-exempt money market funds lost $361.2 million — significantly less than the $1.25 billion in losses the week before. The losses caused the funds to settle with assets of $326.37 billion for the week ending Nov. 1. The funds had $326.73 billion in total net assets in the week ending Oct. 25.