Weekly Reporters Post $614M of Outflows

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.