The assets of tax-exempt money market funds fell by $1.32 billion and settled at $484.44 billion for the week ending March 23, according to the Money Fund Report, a service of iMoneyNet.com.
The outflows were significantly less than the $7.3 billion the funds lost for the week ending March 16, when they ended at $485.76 billion.
The average seven-day simple yield for the 508 tax-free funds in the report this week remained unchanged at 0.33%.
Taxable assets, meanwhile, gained $7.39 billion to settle at $3.312 trillion for the week ending March 24. That was way down from the whopping $45.23 billion rise to $3.304 trillion for the week ending March 17, which coincided with the March 16 deadline for corporate tax payments.
The average seven-day simple yield for the 1,214 taxable funds fell to another all-time low of 0.24% from last week’s 0.25%.
The combined assets of all the funds in the report rose by $6.07 billion to $3.79 trillion for the week ending March 24, compared with outflows of $45.24 billion to $3.79 trillion the week before.