Muni money funds show signs of life
If 2017 was the year the municipal money market funds stopped bleeding assets, 2018 is the year they've started growing again.
Tax-exempt money market fund assets have increased by almost $7 billion since the beginning of the year, seven times as much as all last year, according to Investment Company Institute data.
"With rates rising there's just been a better bid for floating-rate products," said Matt Fabian, a partner at Municipal Market Analytics. "It's a reasonable place for investors to park cash."