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U.S. Money Market Funds Grow to Record

Assets held by U.S. money market funds climbed to a record high $2.396 trillion in the latest week, iMoneyNet's Money Fund Report said on Wednesday.

Taxable funds reported $4.5 billion of inflows while tax-free funds reported $1.1 billion of new cash. Taxable yields averaged 4.75%, down from 4.76% the prior week. Tax-free yields averaged 3.08%, up from 3.03%.