Taylor Riggs

The Friday effect, coupled with a larger than expected drop in unemployment, pushed munis weaker.

Munis were weaker Friday morning, following Treasuries, as positive employment data forced the risk-on trade.

Tax-exempt investors don't seem to mind investing in a market when yields across the curve are at or within reach of record lows. Demand was strong in the new-issue market and secondary trading was firm.

NEW YORK – Tax-exempt investors don’t seem to mind investing in a market when yields across the curve are at or within reach of record lows. Demand was strong in the new issue market and secondary trading was firm.

Following Wednesday, the tax-exempt market seems confused Thursday.

After a big rally early in the week and a mixed day for the tax-exempt market Wednesday, munis are taking it easy Thursday.

The tax-exempt market ended mixed Wednesday as traders said there were both buyers and sellers in the market.

NEW YORK – The tax-exempt market ended mixed Wednesday as traders said there were both buyers and sellers in the market.

Munis were mixed Wednesday afternoon as traders noted yields on the short-end were lower, but the large influx of deals pushed muni yields higher on the long-end. Munis were helped by weakening Treasuries.

Traders are experiencing a love-hate relationship with the tax-exempt market on Wednesday. Muni traders say that while $25 billion of reinvestment money hit the market, which should spur buying, most buyers aren’t willing to participate while yields stay so low.

Tax-exempts defied muni market participants who said yields were too low to go any lower.

NEW YORK – Tax-exempts defied muni market participants who said yields were too low to go further. On the last trading session on January, yields on the long-end hit new record lows as recorded by Municipal Market Data and yields in the intermediate term came close.

The tax-exempt market strengthened Tuesday afternoon after a fairly quiet morning. Market participants were able to relax after the primary market provided firm direction.

After a strong rally Monday, the tax-exempt market opened Tuesday steady as buyers waited for the primary market to provide direction.

With no supply to provide direction, the tax-exempt market followed Treasuries higher as munis continued their fifth consecutive trading session of gains.

NEW YORK – With no supply to provide direction, the tax-exempt market followed Treasuries higher as munis continued their fifth consecutive trading session of gains.

The tax-exempt market continues to take direction from Treasuries as lack of supply creates a supply-demand imbalance

The tax-exempt market followed Treasuries higher Monday morning, as European woes pushed investors into safe haven assets.

The supply and demand imbalance in the tax-exempt market continues to weigh on investors.

NEW YORK – The supply and demand imbalance in the tax-exempt market continues to weigh on investors.