The streak of inflows continues. Just when municipal bond fund flows appeared to be teetering into negative territory, they rebounded with a strong week.
For the week ended March 28, muni bond funds saw $430 million in inflows from funds that report their flows weekly, according to Lipper FMI. Muni bond funds bounced back from the week ended March 21, when there were net inflows of just $88.5 million.
The numbers indicate that there have been 17 consecutive weeks of inflows in the market, and 28 weeks in positive territory out of the past 30.
Since last Friday, Treasuries outperformed triple-A tax-exempt yields at all but the 10-year part of the curve. There, they both ended down eight basis points. Yields for both munis and Treasuries mostly closed out the week stronger overall.
This week, assets for funds that report their flows weekly rose for the first time in three weeks to $289.2 billion from $287.2 billion the previous week.
The value of the holdings for weekly reporting funds rose for the first time in four weeks. This past week, they rocketed upward by $1.56 billion. The week before, they had plunged by $1.17 billion.
The four-week moving average for all municipal bond mutual funds that report their flows weekly saw a $604 million inflow, up from a $586 million gain the week before.
High-yield muni funds saw inflows. They have been positive for 15 of the previous 17 weeks.
Funds that report weekly saw $97.8 million in inflows, Lipper said. The previous week, high-yield funds reported $8.62 million in outflows.
Assets for high-yield funds that report their flows weekly rose to $37.94 billion, up from $37.60 billion the previous week.
The value of the holdings for weekly reporting funds rose by $247 million, the first increase reported in four weeks. Last week, they fell by $118 million.
The four-week moving average for all high-yield muni bond funds that report their flows weekly was a $141 million inflow, up from a $120 million inflow the week before.
