Tax-Free Assets Fall From Record High

Fine, Jacob
March 2005
Bond Buyer;3/4/2005, Vol. 351 Issue 32083, p6
Trade Publication
The article reports that tax-free money market funds had a net outflow of $5.82 billion during the week ended Monday. Their assets fell from a record high to $322.13 billion, iMoneyNet Inc. reported. The all-time high of $327.95 billion was reached a week earlier, on February 21, 2005, according to the Westborough, Massachusetts-based iMoneyNet. The funds' average weekly yield meanwhile dropped four basis points to settle at 1.29% on an annualized basis. During the week ended Tuesday, taxable funds' average weekly yield rose five basis points to 1.93%.


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