​ Money Fund Assets Decline on Month-​End; CP Supply Continues Recovery. Money market mutual funds declined by $​23.​4 billion to $​2.​947 trillion during the week ended Oct. 31, according to the ICI'​s most recent survey. It was the first decline since Sept. 19 and the largest since April 18. Outflows are likely temporary and due to month-​end; we believe funds will resume their ascent and break through the $​3 trillion barrier within weeks. Institutional investors withdrew $​24.​97 billion to $​1.​850 trillion while individual investors added $​1.​56 billion to $​1.​096 trillion. Commercial paper outstanding continued its recent recovery, rising $​9.​9 billion to $​1.​882 trillion in the latest week. But asset-​backed CP declined further, falling $​9.​0 billion to $​924.​9 billion.

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