NEW YORK, (Reuters) – U.S. money market fund assets decreased by $554.60 million to $4.721 trillion in the week ended May 26, the Money Fund Report said on Wednesday.

Taxable money market fund assets decreased by $600.80 million to $4.586 trillion, while tax-free assets increased by $46.20 million to $134.82 billion, according to the report, published by iMoneyNet.

The iMoneyNet Money Fund Average 7-Day Simple Yield for All Taxable money-market funds fell to 0.09 percent from 0.11 percent last week; the Taxable WAM lengthened by one day to 42 days. The iMoneyNet Money Fund Average 7-Day Simple Yield for All Tax-Free and Municipal money-market funds slipped to 0.06 percent from 0.07 percent last week. The Tax-Free WAM lengthened by one day to 28 days.

Source: Read Full Article