Tax-exempt money market funds generated inflows for a second week in a row as $2.29 billion of new cash boosted total net assets to $265.75 billion in the period ending Dec. 9, according to The Money Fund Report, a service of iMoneyNet.com.
The inflows added to $725.2 million that arrived last week and increased total net assets to $263.46 billion.
The average, seven-day simple yield for the 419 weekly reporting tax-exempt money market funds remained at 0.01%, while the average maturity increased by one day to 40 days compared to last week.
The 1,015 weekly reporting taxable money market funds attracted $8.04 billion of inflows in the week ended Dec. 10 as total net assets grew to $2.427 trillion. It was a second week of inflows after the funds took in $15.22 billion in the period ending Dec. 3.
The average, seven-day simple yield for the taxable funds was unchanged at 0.01%, while the average maturity increased to 49 days from 48 days last week.
The combined total net assets of the 1,434 weekly reporting money funds grew to $2.693 trillion following the addition of $10.33 billion of new cash in the week ended Dec. 10. In the previous week, the funds gained $15.95 billion of inflows and total net assets rose to $2.682 trillion.
