Muni bond mutual funds struggled through their 29th straight week of outflows.
Those muni bond funds that report flows weekly suffered outflows of $1.90 billion for the week ended Dec. 11, Lipper FMI numbers showed. The previous week, they reported outflows of $875 million.
Assets for all muni funds that report their flows declined for a second straight week, and a fifth out of six weeks, to $268.2 billion. During the previous week they fell to $270.9 billion.
The value of the holdings for weekly reporting funds fell by $80 million. The week before, they decreased by $384 million.
The four-week moving average for all municipal bond mutual funds that report their flows weekly was $1.11 billion of outflows, compared with $855 million of outflows the week before.
Long-term muni bond funds that report flows weekly recorded more than half of outflows, at $1.05 billion. They recorded $688 million of outflows the previous week.
Weekly reporting high-yield muni bond mutual funds saw outflows of $425 million for the week ended Dec. 11. They more than doubled the amount suffered the previous week, when they reported outflows of $198 million.
Assets for high-yield funds that report their flows weekly slipped for a sixth straight week to $35.22 billion, from $35.71 billion the week before.
The value of the holdings for high-yield funds decreased by $65 million. Last week, they fell by $72 million.
The four-week moving average for all high-yield municipal bond funds that report their flows weekly showed $226 million of outflows, versus $156 million of outflows the previous week.