The municipal market showed gains today, as it has in every session this week. Traders said tax-exempt yields were unchanged to firmer by two or three basis points, with most of the gains found on the long end of the curve.
"We´re a bit better again," a trader in New York said. "We´ve been seeing pretty steady gains in the marketplace for the last couple of weeks, and we´re still seeing that firmness out there. It´s more on the long end today, maybe two or three basis points better out there, and elsewhere along the curve it´s still pretty flat, to maybe a tick better. But there´s definitely at least a firmer tone out there."
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Michael.Scarchilli@sourcemedia.com