Jan 24 The surge of money into U.S. municipal bond funds abated slightly in the week ended Jan. 23, with data released by Lipper on Thursday showing $871.43 million of net inflows, well below the $1.44 billion and $1.55 billion inflows of the previous two weeks.
The latest three weeks have more than reversed net outflows during the weeks of Dec. 19, Dec. 26 and Jan. 2 that totaled $2.7 billion.
In the latest week, the four-week moving average remained positive at $964.7 million, according to Lipper, a unit of Thomson Reuters.
Flows into high-yield muni funds dipped to $278.68 million from $434.05 million in the week ended Jan. 16. Exchange-traded funds also had lower net inflows, $76.38 million compared with $106.06 million the previous week.
BondDesk Group data for the week ended Jan. 23 showed retail investors bought 1.7 bonds for each one they sold, down from the 2.0 to 1 ratio the previous week. The total number of bonds bought was 46,017, while the number of bonds sold was 26,616.
The data is based on odd-lot customer transactions.