Two weeks of gains among tax-exempt money market funds were washed away this week as $2.49 billion escaped the industry and total net assets decreased to $267.42 billion in the week ended Oct. 15, according to The Money Fund Report, a service of iMoneyNet.com.

The outflows put an end to a two-week inflow cycle -- the first in nearly a month -- during which the funds took in $1.50 billion last week and settled with $269.91 billion; and $99.2 million when they settled with $268.41 billion in the week ended Oct. 1.

The average, seven-day simple yield for this week's 438 tax-exempt reporting money funds remained at 0.01% for the 20th consecutive week, while the average maturity remained at 38 days.

Meanwhile, the total net assets of the 1,059 reporting taxable funds soared by $13.11 billion and settled at $2.285 trillion for the week ended Oct. 16, on the heels of outflows of $4.01 billion in the prior week when total net assets settled at $2.272 trillion.

The average, seven-day simple yield for the taxable funds was unchanged at 0.03% for a sixth week in a row, while the average maturity increased by one day to 49 days.

Overall, the combined assets of the 1,497 reporting money funds were boosted to $2.553 trillion after the arrival of $10.62 billion of inflows, which compares to last week when they experienced $2.51 billion of outflows and total net assets dipped to $2.542 trillion.

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.