Investors continue to stuff municipal bond mutual funds with cash, supporting bond prices even as by some measures they are nearly as expensive as they have ever been.

Early last month, it appeared fund flows had finally slowed down. Cash was landing in municipal funds at a rate of less than $1 billion a week for the first time in six months.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.