Money market fund assets were down slightly this week, explains ICI in its latest weekly "Money Market Mutual Fund Assets" report. The release says, "Total money market fund assets decreased by $1.44 billion to $2.59 trillion for the week ended Wednesday, May 13, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) increased by $4.44 billion and prime funds decreased by $3.86 billion. Tax-exempt money market funds decreased by $2.02 billion. Assets of retail money market funds decreased by $1.12 billion to $860.56 billion. Among retail funds, Treasury money market fund assets decreased by $720 million to $189.60 billion, prime money market fund assets increased by $690 million to $491.43 billion, and tax-exempt fund assets decreased by $1.09 billion to $179.53 billion. Assets of institutional money market funds decreased by $320 million to $1.73 trillion. Among institutional funds, Treasury money market fund assets increased by $5.16 billion to $775.02 billion, prime money market fund assets decreased by $4.56 billion to $888.55 billion, and tax-exempt fund assets decreased by $930 million to $64.88 billion <b:>`_." Year-to-date, money market fund assets are down $143 billion, or 5.2%. In other news, Reuters writes, "U.S. Commercial Paper Supply at Lowest Level Since February." It says, "The amount of U.S. commercial paper outstanding fell below $1 trillion to its lowest level since mid-February, suggesting weaker corporate demand to finance payrolls and inventories, Federal Reserve data showed on Thursday. Recent economic data showed domestic business activity has remained sluggish due to weak global demand. U.S. seasonally adjusted commercial paper outstanding fell $24.3 billion, its biggest weekly drop in 10 weeks, to $992.4 billion in the week ended May 13. Appetite from money market funds, which are major buyers of these ultra short-dated corporate IOUs, may have slipped on the week as their assets fell."

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