US Municipal Bond Fund Drop, Says Lipper

By IVCPOST Staff Reporter

Jul 06, 2013 08:07 AM EDT

According to Thomson Reuters' Lipper, the four-week moving average of US municipal bond funds remained negative at US$2.3 billion. The municipal bond funds went down by US$4.53 million to US$870.4 million of net outflows, as of July 3.

High-yield munis posted US$140.7 million, which resulted in the reversal of net outflows for the week ending July 3. Lipper, a leader in providing mutual fund information, further stated that the net outflows value was at US$1.2 billion during the previous week. Moreover, there was US$ 33.7 million worth of exchange traded funds that dealt in munis. This value was down from US$158.1 million net outflows.

On the other hand, BondDesk Group LLC, on a separate report, said that there were 2.4 bonds bought for every one sold, for the week to July 3. During the previous week, there were 2.3 bonds for every one sold. In addition, BondDesk said that there were 84,441 total buys and 34,677 total sells.

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