Retail demand for municipal bonds continued to surge last week as mutual funds that invest in state and local government debt posted their second biggest weekly inflow of the year.

Municipal bond mutual funds that report their figures weekly reported $953.9 million in new money from investors during the week ended Aug. 11, according to Lipper FMI. That was the biggest weekly inflow since March, and heavier than all but 33 inflows since Lipper started tracking the data in 1992 — 970 weeks ago.

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