Investors continue to withdraw money from municipal bond mutual funds. Muni bond funds that report their flows weekly had net outflows of $296 million in the week ended May 25, according to Lipper FMI.
Last week’s numbers, when investors withdrew just $108 million from muni funds, again looked as though the market was finally poised for a week of inflows. But instead, this week marked the 28th in a row that investors pulled money out of weekly reporting funds. Still, the pace of money leaving municipal bond funds remained relatively small. Only three weeks ago, investors withdrew almost $800 million.