Spurred by expectations for rising interest rates, investors pulled $1.4 billion from municipal bond funds in the week ended last Wednesday, the biggest weekly outflow since the early days of the pandemic
Investors pulled $1.4 billion from municipal bond funds in the week ended last Wednesday, the biggest weekly outflow since the early days of the pandemic, according to Refinitiv Lipper.
Municipal bond yields, which rise as prices fall, climbed last week after the Federal Reserve signaled it would , reducing the appeal of outstanding debt. Yields on the highest-rated state and local bonds jumped to 1.55% Friday from 1.34% Tuesday, according to Refinitiv MMD.
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