The influx of cash into tax-free money market funds last week proved to be short-lived as assets fell $914.9 million to $309.04 billion for the week ended May 16, according to the Money Fund Report, a service of iMoneyNet.com.

That is in stark contrast to the previous week’s activity, which ended a trend of outflows when a hefty $3.33 billion flowed into the money-fund industry and pushed total net assets to $309.95 billion for the week ended May 9.

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.