Tax-free money market funds ended the month on a sour note, as $2.14 billion poured out of the industry and total net assets declined to $290.27 billion in the week ended Jan. 30, according to the Money Fund Report, a service of iMoneyNet.com.

The decline marked the third week of negative flows and came on the heels of $1.34 billion in losses last week when the funds ended with $292.40 billion.

The average, seven-day simple yield for the 455 tax-exempt money market funds reporting remained unchanged at 0.01% for the 22nd week in a row, while the average maturity remained unchanged at 29 days.

Meanwhile, taxable money funds saw a dizzying $20.84 billion flee the funds and total net assets declinedto $2.342 trillion in the week ended Jan. 31. That was a stark reversal from the previous week, when the taxable funds lost $1.19 billion and assets settled at $2.362 trillion.

The seven-day yield for the 1,110 taxable funds reporting this week remained at 0.02% for the 27 week straight, while the average maturity was unchanged at 44 days.

Overall, the combined total assets of the 1,565 reporting funds fell by a whopping $22.98 billion to end the week of Jan. 31 with $2.632 trillion, following a week when total net assets finished with $2.654 trillion after losing $2.54 billion.

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