Last month, Morningstar reported that investors pulled $7.6 billion from muni bond funds, the category’s worst month for outflows except for the $8 billion redeemed in October 2008 during the credit crisis peak.

Investors had been pouring money into the class since January, 2009. Taxable bonds had their slowest month since May, with an inflow of $6.1 billion, down from $21 billion in Otober.

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