November 7, 2018 / 9:00 PM / 9 days ago

U.S. money market fund assets post biggest rise in five months: iMoneyNet

(Reuters) - U.S. money market fund assets increased by $27.84 billion in the week ended Nov. 6 to $2.874 trillion, marking their largest weekly rise in five months, the Money Fund Report said on Wednesday.

Taxable money market fund assets grew by $26.64 billion to $2.739 trillion, while tax-free assets climbed by $1.20 billion to $135.27 billion, according to the report, published by iMoneyNet.

Seven-day yields on taxable money funds averaged 1.82 percent, up from 1.80 percent the week before, while the seven-day yields on tax-free money funds averaged 1.17 percent, higher than 1.16 percent a week ago, according to iMoneyNet.

GRAPHIC: U.S. money fund assets - tmsnrt.rs/2N3eZa0

Reporting by Richard Leong; Editing by G Crosse and Lisa Shumamker

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