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U.S. money fund assets grew by $10.08 billion
to $3.121 trillion in the week ended June 4, the Money Fund
Report said.
During this six-week stretch, total fund assets increased by
$111 billion.
(GRAPHIC: U.S. money fund assets link: https://tmsnrt.rs/2Em6sNq).
U.S. President Donald Trump said on Wednesday he thinks Mexico
wants to make a deal in the neighbors' immigration dispute, but
that he will go ahead with tariffs on Mexican goods if it does
not do more to control migration.
Trump's threat of tariffs on Mexican imports, which may go into
effect next week, intensified a scramble among investors to sock
their money into cash and other safe-haven assets.
It remains unclear whether Washington and Beijing would reach a
trade pact after talks unexpectedly broke down a month ago.
Taxable money market fund assets climbed by $11.53 billion to
$2.985 trillion, while tax-free assets declined by $1.45 billion
to $136.13 billion, according to the report, published by
iMoneyNet.
The iMoneyNet average seven-day simple yield for taxable money
funds rose to 2.04% from a five-month low of 2.02% last week.
The weighted average maturity among taxable funds increased to
30 days from 29 days.
The iMoneyNet average seven-day yield for tax-free and municipal
funds jumped to 1.11% from 0.99%, which was the lowest since
late January. The weighted average maturity of tax-free funds
was unchanged at 22 days.
(Reporting by Richard Leong; Editing by Susan Thomas)
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