Flows among tax-exempt money market funds switched back to negative as they reported the loss of $1.20 billion in the week ended June 16, according to The Money Fund Report, a service of iMoneyNet.com.
The outflows decreased total net assets to $256.26 billion, after inflows of $1.05 billion last week.
The average, seven-day yield for the 410 weekly reporting tax-exempt money funds was unchanged at 0.01%, while the average maturity held steady at 31 days.
Taxable money market funds reported outflows of $28.23 billion as total net assets dropped to $2.329 trillion in the week ended June 17. The outflows followed $2.25 billion of inflows in the prior week.
The average, seven-day yield for the 1,012 weekly reporting taxable money funds remained at 0.01%, while the average maturity increased by one day to 44 days.
The combined total net assets of the 1,431 weekly reporting money funds finished at $2.585 trillion in the week ended June 17 after the exit of $29.43 billion.
