Strong Rebound in MMF Assets
The ICI's latest weekly "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets increased by $31.24 billion to $2.578 trillion for the week ended Wednesday, November 7, the Investment Company Institute reported today. Taxable government funds increased by $7.09 billion, taxable non-government funds increased by $20.86 billion, and tax-exempt funds increased by $3.29 billion." Last week money fund assets dropped sharply (down $22.7 billion) as markets shut down ahead of Hurricane Sandy <b:>`_. ICI's release explains, "Assets of retail money market funds increased by $2.97 billion to $888.09 billion. Taxable government money market fund assets in the retail category increased by $580 million to $188.13 billion, taxable non-government money market fund assets increased by $400 million to $511.36 billion, and tax-exempt fund assets increased by $1.99 billion to $188.59 billion.... Assets of institutional money market funds increased by $28.27 billion to $1.690 trillion. Among institutional funds, taxable government money market fund assets increased by $6.51 billion to $680.30 billion, taxable non-government money market fund assets increased by $20.46 billion to $928.94 billion, and tax-exempt fund assets increased by $1.30 billion to $80.35 billion."
