Municipal bond fund inflows fell to their lowest levels in the last nine weeks during the week leading into the Fourth of July holiday.
Funds that report weekly said inflows dropped to $19.4 million for the week ending July 2, a $214.1 million decline from $233.5 million the week before, according to Lipper FMI.
Inflows had not been this low since the week ending April 30, when fund flows turned negative.
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.
Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
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.
Photos from The Bond Buyer's Texas Public Finance conference.
The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
"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.
