Money-Market Fund Assets Tick Higher as Tax Season Winds Down

Money-market assets edged higher, driven by a pick-up in institutional funds, on expectations short-term rates will remain elevated and as the tax season winds down.

About $9.13 billion flowed into US money-market funds in the week through April 24, according to Investment Company Institute data. Total assets rose to $5.98 trillion from $5.97 trillion the week prior.

The inflows come as Federal Reserve officials signaled rates will remain higher for longer. Money-market assets fell by the most since 2008 in the prior week, driven mainly by an exodus of institutional funds, as tax bills came due. While the annual ...