US bond funds lost $32.3 billion in assets last week as the economic shock of the rapidly-spreading coronavirus pandemic heightened concerns about corporate balance sheets, marking the steepest drop in assets since at least 2013, according to data released Wednesday by the Investment Company Institute.
Nearly $29.3 billion those outflows came from taxable bond funds, a category that includes both corporate bond and Treasuries. Approximately $3 billion came out of municipal bond funds.