Municipal-bond funds received $274 million inflows in the week ended June 8, 2011, according to Lipper FMI, a unit of Thomson Reuters, The Wall Street Journal reports. The muni-bonds faced $35.1 billion outflows for the last 29 weeks with $436 million of outflow in the week ended June 1, 2011.
The high-yield muni funds gathered $81 million inflow in the week ended June 8 as compared to previous week’s $44 million outflow. Mutual funds, which are major investors in munis, hold about one-fifth of the $2.9 trillion in muni debt outstanding.
Click here for the story from The Wall Street Journal.
Click here for the additional coverage from Reuters.