Taylor Riggs

California bonds moved against the trend Monday and advanced amid lighter and weaker trading in the tax-exempt market.

With high yields attracting investors, California bonds traded stronger Monday amid an overall weaker tone in the general market.

Trading in the tax-exempt market opened steady Monday morning as market participants described muni activity as a typical Monday in the summer.

The tax-exempt market ended steady to slightly stronger Friday after poor employment numbers led to demand for safe-haven assets.

The tax-exempt market started to follow Treasuries stronger Friday afternoon after a worse-than-expected jobs number pushed investors into safer assets.

The municipal bond market outperformed Treasuries throughout most of the week as yields on tax-exempts didn't rise as much as their taxable counterparts.

The tax-exempt market decoupled from their taxable counterparts Friday morning as selling pressure surfaced even amid a much stronger Treasury market.

Municipal bond yields moved higher after data on jobless claims and manufacturing came in better than analysts expected.

With little supply in the new issue market Thursday, municipal bonds traded a few basis points stronger, decoupling from a Treasury selloff.

Additional positive economic data released Thursday morning pushed prices lower and yields higher in municipal bonds, following Treasuries.

Trading activity in the tax-exempt market slowed Wednesday afternoon as the 2 p.m. Federal Open Market Committee meeting announcement approached.

The municipal market headed lower, following Treasuries, on better-than-expected GDP numbers released Wednesday morning.

The largest deals in the primary market priced Tuesday to be greeted with strong demand as underwriters were able to reprice bonds higher and lower yields.

Participants in the tax-exempt market continued to hold cash Tuesday as little trading activity surfaced.

The tax-exempt market focused on new deals pricing Tuesday morning as the week's largest deals hit the market before Wednesday's Federal Open Market Committee meeting announcement.

Light trading activity in the tax-exempt market persisted through Monday's session as momentum slowed from Friday's 10 basis point rally.

Traders described the tax-exempt market as apathetic in Monday's afternoon trading session as buyers were hesitant to put money to work ahead of Wednesday's Federal Open Market Committee meeting announcement, GDP numbers, and more expected outflows from muni bond funds.

Following a 10 basis point rally Friday, buyers took a step back Monday morning and waited for new issues to price before putting money to work.

The tax-exempt market made an about-face Friday, posting gains for the first time in over a week after traders said municipal bond yields looked very cheap relative to Treasuries.

The tax-exempt market posted gains Friday afternoon though traders remained skeptical about how long a rally could last.