Muni Funds Lose Most Cash Since 2022 With Fed Delaying Cuts [BNN Bloomberg (Canada)]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: BNN Bloomberg
tried to protect returns amid signals that the Federal Reserve will keep rates higher for longer. Municipal bond funds saw an outflow of $1.5 billion during the week ended Wednesday, according to LSEG Lipper Global Fund Flows data, the largest retreat since December 2022. The exodus broke eight consecutive weeks of inflows, spurring debate about whether this week would start an outflow cycle. Tax season is one reason for the selling given investors often dump tax-exempt municipal holdings to pay what they owe around the April 15 filing deadline, said Kathleen McNamara, senior municipal strategist at UBS Global Wealth Management. The other factor is volatile and rising Treasury yields that have pushed “skittish” retail investors to the sidelines, she said. READ: Fed Resets Clock on Cuts and Questions If Rates Are High Enough “There is some protective selling going on,” said Vikram Rai, head of municipal markets strategy at Wells Fargo & Co. Investors are worried about the Fed n
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WFC
News
- Transcript of Trump Manhattan Trial, April 26, 2024 [The New York Times]The New York Times
- Wells Fargo & Company (NYSE: WFC) had its price target raised by analysts at JPMorgan Chase & Co. from $59.00 to $61.50. They now have a "neutral" rating on the stock.MarketBeat
- Federal Reserve keeps interest rates at current levels as inflation holds its grip [MSNBC.com]MSNBC.com
- Federal Reserve not expected to budge on interest rates yet as inflation holds its grip [Yahoo! Finance]Yahoo! Finance
- Federal Reserve not expected to budge on interest rates yet as inflation holds its grip [MSNBC.com]MSNBC.com
WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- WFC's page on the SEC website