Tax-exempt money market funds gave up the inflows they accumulated last week — and then some — when they lost $1.45 billion and total net assets dropped to $272.20 billion in the week ended June 11, according to the Money Fund Report, a service of iMoneyNet.com.

The funds kicked off the month of June with gains of $1.19 billion last week, driving net assets up to $273.64 billion, a merely temporary respite from the $1.80 billion of outflows in the week ended May 28.

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