June 9 (Reuters) – The U.S. municipal bond market grew to $3.747 trillion in the first quarter from $3.719 trillion in the fourth quarter, according to a quarterly report from the Federal Reserve released on Thursday.
Households, or retail investors, held $1.608 trillion compared with $1.597 trillion the previous quarter.
Property and casualty insurance companies bought $10.4 billion of munis in the first quarter, while life insurance companies acquired $13.3 billion. U.S. banks increased their muni holdings by $48.4 billion.
U.S. mutual funds bought $78.5 billion of munis in the first quarter, while exchanged-traded funds added $7.1 billion.
(Reporting by Robin Respaut; Editing by Meredith Mazzilli)