U.S. bond mutual funds suffered their sixth straight week of redemptions, the longest streak in more than four years, as investors pulled $8.1 billion from the strategies.
Taxable bond funds saw withdrawals of $5.73 billion and municipal bond funds had redemptions of $2.38 billion in the week ended July 10, the Investment Company Institute said.
The last time bond funds saw six or more weeks of estimated redemptions was from September through mid-December 2008, according to data from the Washington-based ICI, a trade group for mutual-fund firms.
The flight from bonds was triggered by Federal Reserve Chairman Ben Bernanke, who told Congress on May 22 that the U.S. central bank may start reducing its bond purchases.
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Investors pulled about $60 billion from U.S. bond funds in June, the biggest monthly redemptions in records going back to 1961, according to ICI estimates.