Inflows for all municipal bond funds declined by 90.8% as investors pulled money out of long term and high yield funds.
Inflows slowed to $40.98 million for the period ending Oct. 22 from $443.9 billion the previous week, according to Lipper FMI. It was the second week in a row of declines, after a drop of almost 42% the week of Oct. 15.
Assets of all weekly reporting municipal funds dropped to $314 billion from $315.8 billion. The four-week moving average plummeted to $370.9 million from $507.9 million.
Flows for long-term muni funds turned negative, as they reported $86.13 million in outflows. The long- term funds posted $553.96 million of inflows the previous week.
Long-term municipal mutual fund assets dropped to $165.2 billion from $166.5 billion last week. The four-week moving average for the long-term funds was an inflow of $257 million, down from $359.7 million last week.
High yield funds reported outflows totaling $49.2 million following inflows of $340.6 million previously. Assets fell to $47.96 billion from $48.3 billion last week. The four-week moving average fell to $180.5 million from $258.3 million.
