- The Schwab Municipal Bond ETF has seen more than $530 million in outflows in September, putting it on track for its worst month since its 2022 launch.
- A record $360 million single-day withdrawal last week contributed to the outflow wave.
- The outflows follow a fixed-income selloff that pushed municipal bond yields to the highest in months.
- The 10-year Treasury yield surpassed 5% for the first time since 2023, pressuring fixed-income assets.
Quotes
“A recent wave of outflows in the Schwab Municipal Bond ETF, including a record $360 million single-day withdrawal last week, has put the fund on track for its worst month since its 2022 launch.”
“even with 10-year Treasury yields surpassing 5% for the first time since 2023”