July 3, 2019 / 7:45 PM / 2 months ago

UPDATE 1-U.S. money market assets rise near $3.2 trillion -iMoneyNet

(Adds background)

NEW YORK, July 3 (Reuters) - U.S. money market fund assets grew for 10 straight weeks and were close to $3.2 trillion as investors poured more cash into these low-risk vehicles amid worries about economic growth and trade tensions, the Money Fund Report said on Wednesday.

Money fund assets increased by $37.49 billion to $3.193 trillion in the week ended July 2, their highest level since March 2010.

During this 10-week run, total fund assets have increased by about $183 billion.

Taxable money market fund assets increased by $35.36 billion to $3.055 trillion, marking their highest level since September 2009, while tax-free assets rose by $2.12 billion to $137.86 billion, according to the report, published by iMoneyNet.

The iMoneyNet average seven-day simple yield for taxable money funds edged up to 2.00% from 1.99%, which was its lowest level so far this year. The weighted average maturity among taxable funds was unchanged at 29 days.

The iMoneyNet average seven-day yield for tax-free and municipal funds increased to 1.43%, its highest since early May from 1.41%. The weighted average maturity of tax-free funds lengthened to 29 days from 27 days.

Reporting by Richard Leong; Editing by Lisa Shumaker

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below