In what could have appeared to be an April Fool’s joke, but rather was just a coincidence, tax-exempt money market funds lost $1.79 billion in the week ended April 1 — the exact same amount of outflows that fled the industry in the prior week, according to The Money Fund Report, a service of

Some money fund experts may have been doing a double take, and indeed, this week’s outflows came on the heels of the same $1.79 billion of losses in the previous week when total net assets finished at $274.86 billion. Previously, there was a short-lived blip of inflows in the week ended March 18 when total assets rose by a scant $24.2 million and settled at $276.65 billion amid an otherwise outflow-laden trend lately.

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