ICI's weekly "Money Market Mutual Fund Assets" report says, "Total money market mutual fund assets increased by $19.21 billion to $2.819 trillion for the week ended Wednesday, August 4, the Investment Company Institute reported today. Taxable government funds increased by $5.87 billion, taxable non-government funds increased by $10.24 billion, and tax-exempt funds increased by $3.10 billion." Money fund asset levels have retaken the $2.8 trillion level and they remain a touch above where they were six weeks ago. Following declines of 14.0% in 2009 (down $537 billion) and declines of 13.0% (down $421 billion) in the first four months of 2010, money fund assets have declined by less than 2% (down a "mere" $53 billion) over the past 3 months. Seasonally, money funds normally see a cash buildup towards the end of the summer as consumers get liquid ahead of the Labor Day Holiday, and as they prepare for big-ticket spending in the fall on things like college tuition and real estate transactions. While it's likely too early to declare an end to outflows, the evidence is mounting that substantial declines in money fund assets appear increasingly unlikely.

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