UPDATE 1-Outflows from U.S. bond funds set weekly record as money market funds swell -Lipper

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March 26 (Reuters) – U.S.-based taxable bond funds saw a record $62 billion outflow in the last week, while money also fled stock and municipal bond funds as investors shaken by the impact of the coronavirus outbreak on financial markets moved into cash, according to Lipper data.

The flight from bond funds in the week to Wednesday was the second straight record in the Lipper database dating back to 1992, exceeding last week’s history-making $55.9 billion.

Bond markets have shed investors for four straight weeks, closely corresponding to the U.S. market ructions that began in February.

Outflows from U.S. equity funds totaled $17.9 billion, in a sixth straight loss and the largest since Feb. 26, which was the week after the S&P 500 bull market peaked.

Municipal bond funds reported $13.7 billion in outflows and high-yield muni funds shed $4.3 billion in the week, according to Lipper.

Cash-like U.S. money market funds drew $259.8 billion, exceeding the $148 billion record the previous week. (Reporting by Alden Bentley Editing by Chris Reese and Leslie Adler)

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