US municipal bond funds posted net inflows of $63.46 million in the week ended 22 May, down from the $306.31 million recorded in the previous week, according to data released by Lipper, a unit of Thomson Reuters.
The latest week marked the third in a row with positive flows into the funds. Prior to the week of 8 May, the funds reported nine-straight weeks of outflows – the longest streak of negative flows since 2011.
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The four-week moving average turned positive at $127,000, breaking a nine-week string of negative results for the measure said Lipper,.
According to the report, in the latest week, high-yield funds posted net outflows of $123.15 million, a turnaround from net inflows last week of $53.56 million.
Exchange-traded funds had inflows of $10.1 million compared with outflows of $2,000 in the week ended 15 May, the report added.
During the week, the number of bonds bought totaled 58,318, while the number of bonds sold was 35,905.
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