Bond mutual funds and ETFs continued to see big outflows in the latest week, though not as large as the prior week, according to ICI's "Combined Estimated Long-Term Fund Flows and ETF Net Issuance". The January 2, 2019 release, with data as of Dec. 26, 2018, says, "Total estimated outflows from long-term mutual funds and exchange-traded funds (ETFs) were $37.84 billion for the week ended December 26, 2018, the Investment Company Institute reported today. Estimated mutual fund outflows were $46.20 billion while estimated net issuance for ETFs was $8.36 billion. Reports of long-term flow estimates and ETF net issuance are available on the ICI website." The release adds, "Bond funds had estimated outflows of $9.23 billion for the week, compared to estimated outflows of $12.22 billion during the previous week. Taxable bond funds saw estimated outflows of $10.14 billion, and municipal bond funds had estimated inflows of $913 million." Crane Data, which has begun "beta" testing a new Bond Fund Intelligence Daily product, estimates that bond fund outflows almost ceased in the week ended January 2, 2019, as assets declined a mere $3.9 billion. (Let us know if you'd like to see a copy of our new product, which tracks daily assets, yields and NAVs on a subset of the bond fund and ETF universe.)

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