Yields on taxable money market funds remained mired at record lows in the week ended April 29, according to Money Fund Report. This prompted investors to pull almost $24 billion in cash from the funds, Reuters reports.

The average seven-day simple and compound yields on taxable money funds were unchanged at 0.71%, according to Money Fund Report, published by iMoneyNet. For tax-free money funds, the average seven-day simple and compound yields rose to 0.77% from 0.69% a week earlier.

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