​ Money Market Assets Pause Record Ascent Due to Institutional Outflows. ICI reports that money market fund assets declined by $​6.​36 billion in the latest week to $​2.​573 trillion. Institutional funds declined by $​9.​24 to $​1.​531 trillion. July 16 was a Treasury note settlement day, causing overnight "​repo" rates to spike up to 5.​32% (​source: Wrightson ICAP) and drawing cash from funds. Retail assets continued to grow, rising $​2.​89 billion to $​1.​042 trillion. Money fund assets have increased by a stunning $​425 billion, or 19.​8% over the past 52 weeks. Assets should resume their climb next week and should strengthen as we move towards the fall.

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