Outflows lessened, with the Investment Company Institute reporting investors pulled $3.157 billion from mutual funds in the week ending Jan. 4, after $3.402 billion of outflows the previous week.
This week's "manageable" calendar will continue what has been a quiet start to the new year in the municipal market, according to John Mousseau, president and chief executive officer and director of fixed income at Cumberland Advisors.
Outflows continued as Refinitiv Lipper reported $2.477 billion was pulled from municipal bond mutual funds in the week ending Wednesday after $1.946 billion of outflows the week prior.