11/12/2009

The Investment Company Institute released data showing that investors put $55 billion this year into municipal bond mutual funds to take advantage of record returns. For the first nine months of this year, returns on state and local municipal bonds reached 16%, the best in 20 years, according to the Merrill Lynch Municipal Master Index. Retail investors poured more than $2 billion per week into muni mutual funds in August and September.

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