NEW YORK, April 9 (Reuters) - U.S. taxable money market funds reported inflows of nearly $46 billion in the latest week, while tax-free funds took in $11.5 billion, pushing them above $500 billion for the first time, the Money Fund Report said on Wednesday.
The tax-free sector’s new record was $504.8 billion, according to Money Fund Report, a service of iMoneyNet of Westborough, Massachusetts.
Taxable money market funds set a new record by rising to $2.985 trillion, the report said.
Taxable yields eased 1 basis point to 2.21 percent.
Tax-free fund yields plunged 27 basis points to 1.58 percent, said the report.