Municipal bond investors have pulled money from high-yield mutual funds for the first time in nearly three months, showing that the unprecedented demand muni funds enjoyed for much of the last year may be waning.
High-yield municipal bond mutual funds lost $364 million in the week ended Wednesday, according to Refinitiv Lipper U.S. Fund Flows data. That’s the first outflow for junk state and local government debt since October, the data shows.
