Cash flowed out of tax-free money market funds for the second week in a row, declining by a whopping $3.36 billion and settling at $465.66 billion in total assets for the week ending June 1, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

By comparison, tax-free money funds lost just $124.8 million and settled at $469.02 billion for the week ending May 25.

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.