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Municipal bond funds see biggest weekly inflow
Municipal bond funds experienced the largest weekly cash inflows on record, with BlackRock’s "iShares National Money Market Fund" attracting around $1.2 billion, while Vanguard’s "Vanguard Tax-Exempt Bond Index" received about $1.7 billion. This is primarily due to rising yields, which have increased the appeal of municipal bonds, as investors are finding it difficult to obtain similar tax benefits and yields from other asset classes. The rise in yields for ten-year and 30-year maturities to multi-year highs has helped boost demand for these high-quality assets, even though yields have declined since the start of the year. Demand is also driven by investors seeking to offset tax losses by profit-taking from other asset classes, amid market volatility and increased issuance of new bonds.
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