Refinitiv Lipper reported $2.262 billion of outflows from municipal bond mutual funds for the week ending Wednesday after $2.057 billion the week prior.
From Bloomberg: It's been three years since the turmoil in the market for repurchase agreements froze the funding universe and forced a Federal Reserve intervention. Yet risks still linger as another test approaches.
Investors pulled $229.263 million out of muni bond mutual funds in the latest week, versus the $635.177 million of outflows the prior week, according to Refinitiv Lipper. High-yield continues to see inflows.
Traders are betting Federal Reserve Chair Jerome Powell’s tough inflation talk means the central bank is willing to speed up the pace of interest rate hikes.