Tax-exempt money market funds saw inflows of $3.19 billion for the week ending Jan. 12, settling at $503.24 billion in total assets, according to the Money Fund Report. The total was slightly higher than the previous week, which saw inflows of $8.23 billion and settled at $500.05 billion.

The 514 tax-free funds saw the average seven-day yield drop to 0.41% from 0.71% - the lowest level since March 15, 2004, according to the report, a service of iMoneyNet.com of Westborough, Mass. The average maturity remained unchanged at 28 days.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.