Earlier this month, money fund assets climbed to $3.029 trillion, which was the highest since March 2010. Taxable money market fund assets declined $6.30 billion to $2.864 trillion, while tax-free assets decreased by $2.10 billion to $142.49 billion. The Investment Company Institute on Wednesday said a combined $9.23 billion flowed into stock, bond and commodity mutual and exchange-traded funds in the week ended Jan. 23.
This was the third straight week of inflows, reversing some of the heavy outflows at the end of 2018 on worries about a global economic slowdown and the trade conflict between China and United States. iMoneyNet's average seven-day simple yield on all taxable money funds was 2.04 percent for a second week, while the average seven-day yield on tax-free and municipal money funds edged up to 0.91 percent from 0.90 percent the week before.