For the first time ever, weekly assets of tax-free money market funds surpassed $500 billion as they soared to $504.8 billion for the week ending April 7, according to the Money Fund Report, a service of imoneynet.com.

Gaining $11.47 billion in inflows, the funds broke their previous asset record of $493.3 billion set on March 31.

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.