ICI's weekly "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets decreased by $18.82 billion to $2.853 trillion for the week ended Wednesday, May 5, the Investment Company Institute reported today. Taxable government funds decreased by $6.57 billion, taxable non-government funds decreased by $13.33 billion, and tax-exempt funds increased by $1.08 billion. Assets of retail money market funds decreased by $2.60 billion to $980.15 billion. Taxable government money market fund assets in the retail category decreased by $280 million to $152.30 billion, taxable non-government money market fund assets decreased by $2.58 billion to $614.36 billion, and tax-exempt fund assets increased by $260 million to $213.49 billion. Assets of institutional money market funds decreased by $16.22 billion to $1.873 trillion. Among institutional funds, taxable government money market fund assets decreased by $6.28 billion to $680.24 billion, taxable non-government money market fund assets decreased by $10.75 billion to $1.050 trillion, and tax-exempt fund assets increased by $810 million to $142.96 billion." Note that Crane Data's Money Fund Intelligence Daily has shown asset inflows for two days in a row, so money funds are clearly benefit from the correction in stocks and the broader market turmoil.

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