Funds dealing in high-yield municipal bonds have drawn $8 billion as investors search further afield for returns
Investors seeking yield are piling into the riskiest corner of the municipal bond market at a pace not seen in decades.
They have poured $8 billion into funds that deal in high-yield muni bonds—or junk munis—this year, the most through May since at least 1992, according to Refinitiv data. Muni-bond funds overall have attracted $37 billion...
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