UPDATE 1-U.S. muni bond fund outflows narrow to $870.4 mln-Lipper
July 5 (Reuters) - U.S. municipal bond funds reported $870.4 million of net outflows in the week ended July 3, down sharply from a record $4.53 billion of outflows during the previous week, according to data released by Lipper on Friday.
The four-week moving average remained negative at $2.3 billion, said Lipper, a unit of Thomson Reuters.
Mutual funds specializing in high-yield munis reversed a string of net outflows during the week ended July 3 and posted net inflows of $140.7 million, according to Lipper. High-yield funds during the previous week had net outflows of $1.2 billion.
Exchange traded funds dealing in munis had net outflows of $33.7 million, down from $158.1 million of outflows during the previous week ended June 26, according to Lipper.
Separately, a major trading platform for retail bond buyers, BondDesk Group LLC, reported investors in the week through July 3 bought 2.4 bonds for every one sold, compared with the previous week when they bought 2.3 bonds for every one sold.
Total buys in the week were 84,441 and sells were 34,677, BondDesk said.
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters want power now |
- Bitter cold, ice slam U.S. East Coast; South still freezing
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Venezuela's Maduro to raise pressure on business after local vote