The tax-exempt market started to slow Friday late morning as traders prepared for the weekend.
Still, one trader noted that deals priced earlier in the week were starting to trade higher in the secondary.
"New deals are breaking higher," a New York trader said. 'But it's kind of quiet now."
On Thursday, the
In economic news, the
"Headline inflation is turning up on pressure from energy and other commodity prices," wrote economists at RDQ Economics. "Import prices for September posted their second consecutive 1.1% increase and now finished goods PPI also put in a gain of 1.1% in September having risen 1.7% in August. The Fed's policy reaction function appears to have become more tolerant of inflation risk and, going forward, we expect inflation to creep higher."