Money market mutual fund assets fell $4.28 billion for the week ending May 28, to $3.505 trillion, according to the
Taxable money market fund assets in the retail category fell $3.61 billion to $919.28 billion, while tax-exempt fund assets fell $379 million to $303.35 billion.
Institutional money market fund assets also fell $290 million to $2.282 trillion during the same period and taxable money market fund assets fell $1.5 billion to $2.077 trillion, while tax-exempt fund assets rose by $1.21 billion to $204.97 billion.
The seven-day average yield on money market mutual funds remained unchanged at 1.92, according to the Money Fund Report, a service of
The seven-day compounded yield was also unchanged from the prior week at 1.94, while the 30-day compound yield fell from 1.98% to 1.96%.
