The tax-exempt market was steady Friday morning as traders said the market was waiting for bonds issued in the primary market earlier this week to start trading.
"Munis aren't buzzing today," a New York trader said. "We are waiting for the California Rans to free up."
On Thursday, the
Treasuries were stronger Friday morning. The benchmark 10-year yield and the 30-year yield dropped three basis points each to 1.81% and 2.93%, respectively. The two-year was flat at 0.30%.