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SMMU - Municipal Bond Fund And ETF Woes Continue In June But Not Equally
Short Term Municipal Bond Active Exchange-Traded Fund
Municipal bond funds have struggled so far in 2022, witnessing record outflows through the Lipper fund flows week ended Wednesday, June 15, and posting an average year-to-date market loss of 9.98%.
Year to date, municipal debt funds handed back a net $72.5 billion, eclipsing the full-year record net outflows seen in 2013 of $64.2 billion.
For the flows week, the 10-year Treasury yield rose 30 bps, closing out the week at 3.33% after hitting a closing high of 3.49% on June 14 - its highest close since April 14, 201.