Municipal bond funds suffered a reverse and reported outflows in the latest week, according to the Lipper data.
Funds which report weekly posted $73.372 million of outflows in the week ended July 29, after inflows of $125.410 million in the previous week, Lipper reported. The prior week's inflows marked the first time in 12 weeks the funds had a cash infusion.
The latest outflow brings to 15 out of 31 weeks this year that the funds have seen redemptions. However, for the year to date, inflows are still in the green, totaling $3.261 billion.
The four-week moving average remained negative at $70.731 million after being in the red at $352.090 million in the previous week. The moving average has now been negative for 10 weeks in a row. A moving average is an analytical tool used to smooth out price changes by filtering out fluctuations.
Long-term muni bond funds also experienced outflows, losing $10.511 million in the latest week, following inflows of $39.114 million in the previous week. Intermediate-term funds saw outflows of $14.428 million after seeing inflows of $152.569 million.
Exchange traded funds, however, saw inflows of $108.548 million, after experiencing inflows of $108.499 million in the previous week.
But high-yield muni funds reported outflows of $10.152 million in the latest week, on top of an outflow of $3.550 million the previous week.
In the past 13 weeks, high-yield funds have recorded outflows 10 times, totaling $1.717 billion, and inflows three times, totaling $78.785 million.
