With taxable bond funds declining in value by 2.51% in July – their worst performance in a single month since April 1987 – investors pulled $1 billion from the category, Reuters reports, citing data from Lipper and AMG Data Services. The bond category that lost the most assets was U.S. government bond funds that invest in mortgage-backed securities. These bonds lost $3.4 billion in assets. Municipal bonds lost $1.37 billion in the month.

Coming off of a strong second quarter for performance, on the other hand, domestic equity funds took in $17.4 billion in July. It was Wall Street’s best quarter in 4-1/2 years.

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