The yield on a Bloomberg index of 10-year AAA rated municipal bonds has increased for seven straight trading sessions, the longest streak in nearly a year. The climb to about 1.63 percent from the lowest level since December 2012 began May 18, after minutes from the Federal Reserve’s last meeting revealed that the central bank may be getting closer to another interest-rate increase in the coming months. The trend may not last, because muni mutual funds are flush with cash -- they added another $950 million in assets in the week through Wednesday, extending the longest stretch of inflows in six years, Lipper US Fund Flows data show.
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