Tax-exempt money market funds recaptured nearly all of last week's losses, generating inflows of $2.36 billion to settle at $286.77 billion in total net assets in the week ended Nov. 7, according to the Money Fund Report, a service of iMoneyNet.com.
The funds lost $2.38 billion last week and settled at $284.41 billion in net assets in what was the third consecutive week of significant outflows.
The average seven-day simple yield for the 472 reporting tax-exempt money funds remained at 0.01% for the 10th week in a row, while the average maturity increased by one day to 34 days.
Among the 1,120 taxable funds, meanwhile, total net assets swelled by a whopping $29.52 billion — recouping last week's losses, and then some — to finish the week ended Nov. 8 with $2.326 trillion. The week before, the funds lost $27.82 billion and settled at $2.297 trillion.
The average seven-day simple yield for the taxable funds reporting was unchanged at 0.02% for the 15th week straight, while the average maturity also remained unchanged, at 42 days.
Overall, the combined assets of the 1,592 money funds increased to $2.612 trillion after gaining $31.88 billion — just over the $30.20 billion the funds lost in the week ended Nov. 1, when total net assets finished at $2.580 trillion.