California general obligation bonds had the most volume in the secondary market Friday afternoon following a more than $2 billion pricing in the new issue market earlier in the week.
The general market was firmer Friday afternoon with activity on par with volume in the past five Fridays.
"COFINAs are also one of the largely traded names but it's pretty much even with the past five Fridays and the maturities with the most volume are trading flat on the day," a Chicago trader said. Interdealer block trades made up the majority of activity.
On Thursday, yields on the triple-A Municipal Market Data scale ended as much as seven basis points stronger following a four basis point rally Tuesday and Wednesday. The 10-year yield slid three basis points to 2.50% and the 30-year yield dropped seven basis points to 4.08%. The two-year was steady at 0.35% for the 10th session.
Yields on the Municipal Market Advisors benchmark scale ended as much as five basis points firmer. The 10-year yield fell four basis points to 2.65% and the 30-year yield slid five basis points to 4.24%. The two-year was steady at 0.54% for the second session.
Treasuries were mostly flat Friday afternoon thought longer maturing bonds were stronger. The two-year and benchmark 10-year yields were flat at 0.32% and 2.51%, respectively. The 30-year yield fell two basis points to 3.59%.
