Money market fund bounced back this week as assets increased, according to ICI's latest "Money Market Fund Assets" report. The release says, "Total money market fund assets increased by $12.82 billion to $2.62 trillion for the week ended Wednesday, October 22, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) increased by $3.75 billion and prime funds increased by $9.41 billion. Tax-exempt money market funds decreased by $340 million. Assets of retail money market funds increased by $6.64 billion to $915.36 billion. Among retail funds, Treasury money market fund assets increased by $2.76 billion to $205.10 billion, prime money market fund assets increased by $3.73 billion to $524.86 billion, and tax-exempt fund assets increased by $150 million to $185.41 billion. Assets of institutional money market funds increased by $6.17 billion to $1.71 trillion. Among institutional funds, Treasury money market fund assets increased by $990 million to $756.19 billion, prime money market fund assets increased by $5.67 billion to $880.57 billion, and tax-exempt fund assets decreased by $490 million to $69.97 billion." The previous week, MMF assets dropped $21.9 billion. However, month to date through Oct. 22, money fund assets have increased $73.6 billion, according to Crane's Money Fund Intelligence Daily. In other news, the Boston Globe did a follow up article to their piece last Sunday "Fidelity fought Washington over money market funds -- and won." (See our October 20 Link of the Day, "Globe on Fidelity MMF Lobbying.) In "Elizabeth Warren's Silence Was Fidelity's Gain," the Globe says, "In a statement to the Globe, Warren's office said the SEC rules were "an important first step" and stressed a need to "balance the risks that money market funds can pose to the economy against the need to maintain money market funds as an important investment alternative."

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