The Investment Company Institute reported its latest money market mutual fund asset totals last night, showing a decline of $​6.​91 billion to $​3.​498 trillion in the week ended July 16. Institutional assets decreased by $​16.​89 billion to $​2.​270 trillion, likely impacted by the July 15 quarterly corporate tax date. Retail money fund assets increased by $​9.​98 billion to $​1.​228 trillion. Institutional funds saw declines in every category, though government funds fared surprisingly well considering (​unfounded) concerns over Fannie Mae and Freddie Mac. Govt Inst funds decreased just $​1.​49 billion.

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