Investors continued to pull money from municipal bond mutual funds for a 22nd straight week. Those funds that report flows weekly recorded outflows of $746 million for the week of Oct. 23, Lipper FMI data showed.

This represents an improvement from the previous week, when a revised $1.31 billion fled the market. But the current stretch of muni bond fund outflows has surpassed those of the dark days spanning November 2010 to August 2011 on a cumulative basis, Chris Mauro, head of U.S. municipals strategy at RBC Capital Markets, reported in a research brief.

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