Municipal bond mutual funds that report flows weekly recorded $4.53 billion in outflows for the week of June 26, Lipper FMI numbers showed, after $2.22 billion of outflows reported the previous week. The past weeks outflow was the most in data going back to 1992.
Long-term muni bond funds that report flows weekly had $2.79 billion in outflows. Weekly reporting high-yield muni bond funds recorded outflows of $1.20 billion for the week of June 26.
Despite ongoing concerns over geopolitics and more, many advisors said they would increase allocations to foreign equities over the next few months.
Michael Outlaw, the recently named president of Rockefeller Global Family Office, says family offices are defined more by the services they offer than by their relationships with wealthy families.
The partnership between the long-established bank and the fintech brokerage will handle the development of the government-owned account platform behind the new government-seeded retirement accounts for children.
FINRA and consumer advocates are raising alarms about online scams that are driving fraud losses into the hundreds of billions of dollars.
The Trump DOL has said it "has no current plans" for further rulemaking, but that contradicts its own notice of potential regulation last year.
The 10 states that offer the best return for residents' tax dollars.
