Munis slightly firmer, yields attractive bondbuyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bondbuyer.com Daily Mail and Mail on Sunday newspapers.
"Ultimately, the case for fixed income generally, and munis specifically, is much stronger today than it was a year ago," said Nick Vendetti, municipal bond fund portfolio manager with Allspring Global Investments.
Inflows returned as Lipper reported $775.006 million was added to municipal bond mutual funds in the week ended Wednesday after $361.649 million of outflows the week prior.
"We did see some bump in the curve as a result of the FOMC hiking rates by 25 basis points on Wednesday," said Jason Wong, vice president of municipals at AmeriVet Securities. "However, with an unexpected high employment number, fixed-income yields rose."