Muni funds break outflow streak

|By:, SA News Editor

It was just a tiny $103M, but municipal bond mutual funds and ETFs last week ended a streak of 33 consecutive weeks of outflows, according to Lipper. The $103M gain compares to outflows averaging $1.5B-$1.9B over the previous month.

The value of municipals - with longer-dated high-grade paper trading above that of comparable Treasury issues (and that doesn't include adding back the tax benefit) - has been noted often (here and here for example)  over the past weeks, and many closed-end funds are trading at discounts to NAV.

Related ETFs: MUB, HYD, BAB, PZA, MUNI, TFI, ITM, HYMB, MLN, CMF, BABZ, BABS, XMPT, SHM, SUB, PRB, PZT, SMB, NYF, CXA, PVI, PWZ, SMMU, MUAF, INY, MUAD, MUAE, MUAG, MUAC, GMMB, SHYD, VRD, RVNU