Tax-exempt money market funds rebounded slightly the week ending June 21 to post inflows of $485.3 million after losing nearly $3 billion in the prior reporting period, according to the Money Fund Report, a service of iMoneyNet.com. The influx caused total assets to rise to $352.34 billion from $351.84 billion.

The inflows arrived two days before the Federal Open Market Committee’s decision to hold the federal funds target rate in a range between zero and 0.25% for an “extended period,” and on the heels of last week’s $2.94 billion of outflows.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.