Against declining inflows, primary volume will increase slightly for the week of October 6th, according to data provided by The Bond Buyer.
Total potential volume will edge up to $5.540 billion next week, up from $4.493 billion sold this week. This week's actual sales were 15% lower than estimates of $5.3 billion.
Negotiated bond sales were expected to increase to $4.9 billion versus a revised sale of $3.474 billion that were sold this week. Completive issuance will fall, expecting only $640 million against this week's $1.006 billion.
Inflows for all municipal bond funds declined for the week ending October 1, after increasing by nearly 200% last week, according to Lipper FMI.
Inflows totaled $236.5 million last week, down from $588.8 million the previous week.
Assets of all weekly reporting municipal funds rose to $311.8 billion from $310.5 billion the week before. The four-week moving average inflow fell to $373 million from $408.9 million.
Inflows for long-term muni funds declined too, totaling $119.1 million from $324.2 million previously.
Long-term municipal mutual fund assets rose to $163.7 billion from $162.8 billion last week. The four-week moving average of the long-term fund was an inflow of $200.1 million, up from $172.65 million last week.
High yield fund inflows dropped to $170.91 million from $261.82 million the week before. Assets increased to $472.3 billion from $468.5 billion. The four-week moving average was $192.4 million, up from $175.7 million.
