Total assets of money market mutual funds fell by $360 million to end at $3.320 trillion for the week ending Dec. 9, according to the Investment Company Institute.

Retail money market fund assets dropped $5.91 billion to $1.073 trillion. Among retail funds, taxable assets fell $5.17 billion to $836.93 billion, while tax-exempt fund assets fell $740 million to $236.20 billion.

Institutional money fund assets rose $5.55 billion to $2.247 trillion during the same period. Among institutional funds, taxable money fund assets climbed $7.61 billion to $2.079 trillion, while institutional tax-exempt assets fell $1.31 billion to $168.79 billion.

Yields remained low and flat for the week, with the seven-day average yield sticking at 0.03%, 30-day average yields at 0.04%, seven-day compounded yields at 0.03% and 30-day compounded yields at 0.04%, according to iMoneyNet Inc.'s Money Fund Report.

The average maturity of money fund portfolios dropped from 51 days to 50 days.

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