Skittish investors withdrew a stunning $3.107 billion from municipal bond mutual funds in the week ending Nov. 17 — the single worst week of outflows and the largest departure of cash in 10 years, according to weekly fund flow data from Lipper FMI.
The withdrawals followed weeks of mostly steady inflows and were sparked by municipal market volatility stemming from supply and price pressures and the uncertainty about the extension of the Build America Bond program.
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