ICI's latest "Money Market Fund Assets" report shows yet another increase in Prime money fund assets, their third week in a row (and their first increases since July 13), while Tax Exempt MMFs rose for the 6th week in a row. Assets broke back above $2.7 trillion for the first time since August; year-to-date they're down $54 billion, or 1.9%. The release says, "Total money market fund assets increased by $18.76 billion to $2.71 trillion for the six-day period ended Tuesday, November 22, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $18.43 billion and prime funds increased by $170 million. Tax-exempt money market funds increased by $150 million." It explains, "Assets of retail money market funds increased by $1.66 billion to $974.38 billion. Among retail funds, government money market fund assets increased by $2.10 billion to $595.97 billion, prime money market fund assets decreased by $450 million to $252.89 billion, and tax-exempt fund assets were unchanged at $125.51 billion.... Assets of institutional money market funds increased by $17.10 billion to $1.73 trillion. Among institutional funds, government money market fund assets increased by $16.33 billion to $1.60 trillion, prime money market fund assets increased by $620 million to $124.17 billion, and tax-exempt fund assets increased by $140 million to $4.62 billion." Prior to the past 3 weeks' worth of (admittedly modest) inflows ($4.3 billion in total), prime MMFs had declined by 16 weeks in a row, dropping by $663.1 billion. YTD, Prime MMF assets have declined by $906.7 billion, or 70.6%, and they've declined by $1.081 trillion, or 74.1%, since 10/31/15. Government money funds have also gained $22.5 billion over the past 3 weeks, and they increased by $679.6 billion over the 16 weeks prior. Govt MMFs are up by $977.2 billion YTD (80.0%) and they're up by $1.185 trillion (116.9%) since 10/31/15. Tax Exempt MMFs have risen for 6 weeks in a row, up $2.6 billion. after falling by $68.5 billion the previous 14 weeks. Tax Exempt MMFs are down by $124.3 billion YTD (-48.8%) and they're down by $114.8 billion (-46.9%) since 10/31/15.
