Weekly reporting municipal bond mutual funds had a net outflow of $614 million during the period ending Dec. 19, the largest net cash outflow from the sector since June 30, 2004, AMG Data Services reported. The results were down from a $477 million outflow the previous week, and represent the sixth straight week of outflows following three straight weeks of inflows, according to the Arcata, Calif.-based fund tracker. The category represents about 73% of all muni bond funds because it excludes those that report monthly. The four-week moving average for all muni bond funds — which includes the monthly reporters — fell to a $271.9 million outflow from a $164.9 million outflow. Taxable bond funds that report weekly had a $851 million net outflow, after a $679 million inflow the week before. Weekly reporting equity funds had an outflow of $204 million after a $14.1 billion inflow the previous week.
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Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
April 25 -
Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
April 25 -
It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
April 25 -
Photos from The Bond Buyer's Texas Public Finance conference.
April 25 -
The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
April 25 -
"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
April 25