Taylor Riggs

The tax-exempt market continued to lose momentum Friday, as yields rose across the curve following big losses Thursday.

The rally that created a flurry of activity earlier in the week has stalled, with trading quiet Friday morning and munis mostly weaker for the second trading session.

The municipal rally that pulled the 10-year and 30-year yields down 15 and 25 basis points in six days is officially over. Or perhaps it has only paused.

The municipal rally that pulled the 10-year and 30-year yields down 15 and 25 basis points in six days is officially over. Yields rose across the curve Thursday, erasing all gains made since last Friday.

Tax-exempt traders agree the muni rally is officially over as munis are very weak Thursday afternoon and activity is quieting down.

After an amazing rally in the municipal market, it appears tax-exempts are facing headwinds Thursday. After yields fell double digits in the past week, customers have purchased enough and are looking to sell.

The tax-exempt market continued to chug along Wednesday as munis remained unfazed by supply in the primary market and weakening Treasuries. The 10- and 30-year muni yields continued to break record lows for the sixth consecutive trading session.

NEW YORK – The tax-exempt market continued to chug along Wednesday as munis remained unfazed by supply in the primary market and weakening Treasuries. The 10-year and 30-year muni yields continued to break record lows for the sixth consecutive trading session.

Despite weaker Treasuries and several deals in the primary market Wednesday, munis are continuing to hold their own and remain firm.

The tax-exempt market appears to be quiet before the storm. Trading activity is slower Wednesday morning ahead of several big deals expected to hit the market later today.

The supply and demand imbalance in the municipal market continues to push munis higher. Despite traders noting that activity and volume were weaker Tuesday after a three-day weekend, yields continued to hit new record lows.

The supply and demand imbalance in the municipal market continues to push munis stronger. Despite traders noting that activity and volume was weaker Tuesday after a three-day weekend, yields continued to hit new record lows.

The three-day weekend is taking its toll on the tax-exempt market. Munis are a little stronger but activity and volume is slower than a typical Tuesday.

After a strong rally in the tax-exempt market last week, activity is calmer Tuesday morning as traders get back to work after a three-day weekend.

To say the tax-exempt market finished last week on a high note is an understatement. Munis had a fantastic week, with prices showing double-digit gains and yields setting new record lows as each day passed.

NEW YORK – To say the tax-exempt market finished the week on a high-note is an understatement. Munis had a fantastic week, with prices showing double-digit gains and yields setting new record lows as each day passed.

With muni yields hitting new record lows almost daily, there is some skepticism in the market about how long the rally can last.

Friday looks to be capping a week of what has been nothing less than dramatic for the tax-exempt market.

Munis continue to firm, setting new record lows with each passing day. On Thursday, they proved they could defy Treasuries, climbing higher even as the government bonds weakened.

The remaining bank policyholders suing bond insurer MBIA Inc. have requested that the New York Insurance Department hire an independent expert to analyze expected future losses in MBIA's structured finance portfolio.