Tax-exempt money market funds had inflows of $545.7 million and settled with $357.2 billion in total assets for the week ending May 10, while the average seven-day simple yield dropped one basis point to 0.03%, according to the Money Fund Report, a service of iMoneyNet.com.

This previous week saw $1.92 billion pour out, leaving $356.73, while the average yield was 0.04%.

The average maturity remained at 24 days for the second week in a row.

For the week ending May 12, the yield on The Bond Buyer’s one-year note index fell one basis point to 0.52%.

Taxable money funds gained $21.10 billion to $2.494 trillion for the week ending May 11, while the average seven-day simple yield remained at 0.03% for a fourth consecutive week.

Last week, taxable money funds ended with $2.473 trillion after losing $17.01 billion.

Of the 495 tax-exempt and 1,167 money funds reporting this week, the combined assets rose by $21.64 billion to $2.852 trillion, compared with last week when they fell $18.93 billion to $2.830 trillion in total assets, according to the report.

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