Investment funds

The Investment Company Institute reported $2.3 billion of inflows, bringing 2021 totals to $67 billion.

An influx of investment into high-yield munis has created challenges for fund managers forced to compete against each other to get in on new bond offerings.

Refinitiv Lipper reported $1.87 billion inflows. A solid demand component for the market, but some suggest the move into bonds from equities is more an asset reallocation than investors keen on fixed income.

Another $2 billion-plus was reported flowing into municipal bond mutual funds in the latest week, continuing to be a supportive demand component for munis.

The increasing influence of institutional market participants is even stronger in the taxable muni sector, a Municipal Securities Rulemaking Board report finds.

The broader market awaits Friday’s nonfarm payrolls report, but Thursday brought some helpful labor news — unemployment claims dropped to the lowest since before the pandemic-caused economic shutdowns and layoffs plunged in June.

With various Federal Reserve officials airing their views since the Federal Open Market Committee’s latest meeting, it may take a while for members to reach agreement on tapering, a boon for municipals.

Analysts are taking the view that muni investors expect higher taxes and are brushing off inflation concerns. U.S. Treasuries are another story.

The lineup of exclusively short-duration fixed-income products, taxable and municipal, still managed an overall gain.

Four out of the six economic indicators released on Thursday surpassed expectations, with consumers tapping their savings to quench pent-up demand. U.S. Treasuries made gains but municipals stood on their own in an impressive two-day rally with insatiable demand.

The top 20 performers nearly doubled the gains of their peers over the period.

Refinitiv Lipper reported $2.64 billion of inflows into municipal bond mutual funds. The overwhelming demand for the large deals priced this week demonstrates the flood of available cash that continues to support a strong market.

The SEC opened a request for comment on money market fund rules, which could provide an opening for localities seeking a return to a stable net asset value.

These 20 mutual funds and ETFs here are home to roughly $45 billion in assets.

The top 20 more than doubled the gains of their fixed-income industry peers.

Federal Reserve Bank of Chicago President Charles Evans says monetary policy will need to remain “accommodative for quite a while,” since inflation won’t hit a 2% average for “a long time.”

Refinitiv Lipper reported tax-exempt mutual funds saw $1.288 billion of inflows in the week ended Dec. 23, the seventh week in a row investors put cash into the funds.

With interest rates near zero, and expected to remain there. money market funds may no longer be attractive to individual investors.

The current deal deluge is causing a minor yield pullback, but levels have been steadier than many probably thought, trader said.

National Public Finance Guarantee says that hedge funds profited from their participation in mediation sessions on central government Puerto Rico bonds.