US$738m UPMC Revenue Bonds on Tap
The municipal securities market continues to generate steam, as funds attract further inflows amid light new issuance.
Flows into muni bond mutual funds and exchange-traded funds (ETFs) remained positive in the week ending May 1.
According to the Investment Company Institute ((ICI)), investors in the latest week added US$1.72bn to municipal bond funds and US$416m to ETFs, contributing to a tally of roughly US$35bn to date in 2019.
Holders of some major muni-fueled ETFs have also been enjoying a recent surge in value.
Prices of the iShares National Muni