January Effect Lives On As Municipal Bond Funds Flush With Cash
- 13-week stretch of mutual funds adding assets propels market
- BlackRock expects January gains for a fifth-straight year
Morning Meeting: Morgan Stanley's 2016 Muni Outlook
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Mutual funds in the $3.7 trillion municipal-bond market are flush with cash heading into 2016.
Individuals added $1.3 billion to funds focused on state and local-government debt in the week through Dec. 30, the most in almost a year, Lipper US Fund Flows data show. It marked the 13th consecutive week that they’ve gained money, the longest streak since the end of 2014.