After a short-lived tide of inflows, tax-exempt money market funds lost $2.94 billion and finished with $351.84 billion for the week ending June 14, according to the Money Fund Report, a service of iMoneyNet.com.
The outflow activity comes on the heels of an $1.87 billion influx the week before, which had boosted total assets to $354.79 billion.
The average, seven-day simple yield for tax-exempt reporting funds during the period ending June 14 was unchanged at 0.04% for a fifth consecutive week, with the average maturity increasing one day to 24 days. There are 496 tax-exempt funds in the report.
Taxable funds reported outflows of $25.73 billion for the week ending June 15. The 1,174 taxable funds finished with $2.428 trillion in total assets, down a bit from the prior week’s $2.454 trillion total after inflows of $9.21 billion.
The average, seven-day simple yield for taxable funds fell one basis point during the week ending June 15, reverting to 0.03%, a level it’s been at for seven of the last eight weeks. The previous week’s yield was 0.04%.
Overall, the combined assets for the 1,670 funds in the report fell $28.67 billion and settled at $2.780 trillion for the week ending June 15, after gaining $11.08 billion and finishing with $2.808 trillion the week before.