ICI

Issuance has remained robust over the past two weeks, with Wednesday being a particularly busy day.

Outflows continued as investors pulled $4.532 billion from mutual funds in the week ending Oct. 12 after $5.172 billion of outflows the previous week, according to the Investment Company Institute.

Bids wanteds are on the rise, but a constructive secondary market showed a steady to firmer market in the past two sessions. ICI's latest outflows figure is the highest since June.

Should the proposal go forward, the board should provide analysis and evidence as to how such a requirement would benefit the market, dealers said.

A larger new-issue slate led by large deals from the Texas Water Development Board and state of Illinois took focus away from the secondary.

The Investment Company Institute reported investors added $543 million to muni bond mutual funds in the week ending July 13 compared to the $1.061 billion of outflows in the previous week.

The Investment Company Institute reported investors added $1.090 billion from muni bond mutual funds in the week ending June 1, up from $4.367 billion of outflows in the previous week.

Municipals posted gains for the first time in 2022 in May, outperforming U.S. Treasuries on the month. The Bloomberg Muni Index posted a 1.49% return in May bringing losses down to 7.47% year to date.

In the week ending April 13, investors pulled $5.526 billion from the funds, down from $7.227 billion of outflows in the previous week, ICI reported.

The Investment Company Institute reported investors pulled $7.2 billion from municipal bond mutual funds, the largest figure since the outlier months of March 2020 when investors yanked $24 billion in two weeks.