Outflows from municipal bond mutual funds continued into the 31st straight week.
Muni bond funds that report flows weekly recorded outflows of $1.49 billion for the week of Dec. 25, down from $1.71 in the week prior, Lipper FMI numbers showed.
Market observers have noted that many investors are taking part in year-end selling to recoup tax losses.
Assets for all muni funds that report their flows fell to $270 billion after gaining $4 billion to $272 billion in the week ended Dec. 18.
The value of the holdings for weekly reporting funds fell by $220 million, compared with a drop of $209 million the week before.
The four-week moving average for all municipal bond mutual funds that report their flows weekly was $1.50 billion of outflows, compared with $1.34 billion of outflows the week before.
Long-term muni bond funds that report flows weekly recorded outflows of $1.15 billion for the week ended Dec. 25. The week before, those funds reported outflows of $1.02 billion.
Weekly reporting high-yield muni bond funds had outflows of $382 million on the week, the highest since $425 million of outflows in the week ended Dec. 11.
Assets for high-yield funds that report their flows weekly slipped for a seventh straight week to almost $33.94 billion, from $34.90 billion the week before.
The value of the holdings for high-yield funds decreased by $14 million, the smallest drop since a gain in the week ended Nov. 20.
The four-week moving average for all high-yield municipal bond funds that report their flows weekly showed $324 million of outflows, versus $276 million of outflows the previous week.
