Mutual funds

The Investment Company Institute reported $385 million of inflows while ETFs fell to $124 million.

Another round of inflows was reported from the Investment Company Institute — the 31st consecutive week — but they came in at $308 million for the week ending Oct. 6, the lowest since outflows in March.

Volatility in the U.S. Treasury market continues to pull on municipal bond valuations, despite little trading volume.

For 31 consecutive weeks investors put cash into municipal bond mutual funds but saw just $36.87 million of inflows in the latest reporting period while high-yield funds saw $460 million of outflows after $103 million of outflows a week prior.

ICI reported $704 million of inflows, a $1.1 billion drop from the week prior, bringing the total to $76 billion year to date.

The lower inflows and high-yield outflows can be tied to the correction over the past week and may point to uncertainty from retail investors over broader market volatility.

U.S. Treasuries sold off by double digits while municipals cut levels by one to three basis points. Refinitiv Lipper reported another $1.55 billion of inflows for the 29th consecutive week.

Municipals continue to stay in their own lane. ICI reported $1.4 billion of inflows in the 28th consecutive week.

Municipals have been distracted by the robust primary market and that trend will continue next week when another large new-issue calendar greets investors.

Refinitiv Lipper reported $1.3 billion of inflows and an increase in high-yield flows, marking the 28th consecutive week the fund complex saw inflows.

The fund focuses on investment-grade state and local government debt funding sustainable development, including affordable housing, green spaces and hospitals.

The Federal Reserve said Wednesday in its Beige Book report that U.S. economic growth slipped to a more moderate pace between early July and the end of August.

Refinitiv Lipper reported just over $1 billion of inflows into municipal bond mutual funds, an $800 million drop from a week prior, moving the four week moving average to $1.6 billion.

Refinitiv Lipper reported $1.9 billion of inflows, high-yield gaining $524 million, the 25th consecutive week of inflows into municipal bond mutual 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 lineup of exclusively short-duration fixed-income products, taxable and municipal, still managed an overall gain.