After falling $​118.​3 billion in three weeks, due to tax payments and month-​end seasonal and other factors, money fund assets rebounded sharply in the latest week. ICI shows money fund assets jumping $​54.​0 billion to $​3.​472 trillion in the week ended May 7. Institutional funds surged $​48.​0 billion to $​2.​233 trillion while Retail funds increased $​5.​99 billion to $​1.​238 trillion. While inflows should slow from 2007 and early 2008'​s torrid 40+% pace, money funds should break back above their high water mark of $​3.​536 trillion in relatively short order. Tax outflows have subsided and rebate checks should already be arriving.

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