Municipal bond mutual funds that report their flows weekly reduced their net outflows by nearly half of last week’s losses as $583.43 million fled in the week ended April 27, according to Lipper FMI.
The losses caused the weekly reporters to end the week with $310.85 billion in total assets compared to $309.60 billion the week ended April 20. That week’s $1.24 billion of outflows were the most this year.
Among all municipal bond mutual funds, including those that report their figures weekly, the four-week moving average rose to $1.02 billion of outflows versus $983.511 million in the previous week — its fourth consecutive week of increases.
Tax-exempt yields — unfazed by the Federal Open Market Committee’s announcement that it was sticking with the status quo — extended their rally into an 11th day. The value of all muni mutual funds declined by $1.78 billion as total assets grew to $463.50 billion. The previous week saw the funds lose $1.96 billion and end with $462.25 billion.
