Taylor Riggs

After losses earlier in the week, the tax-exempt market posted its second session of gains as a large deal priced in the primary market.

The tax-exempt market continued to post gains Friday as traders some new issues that were inexpensive earlier in the week traded higher in the secondary.

Inexpensive prices on new issues lured buyers back into the marketplace as municipal bond market resumed its slump during the past week.

Coming off Thursday's strong gains, the muni market strengthened for a second session Friday, though traders said activity was quieter than recent sessions.

The tax-exempt market ended firmer Thursday, reversing four consecutive sessions of losses as new deals priced cheap in the primary and were met with demand from buyers.

The new issue market continued to price cheap, allowing underwriters to lower yields in repricings in an overall stronger market.

After four consecutive sessions of posting losses, the municipal bond market outperformed Treasuries Thursday morning as yields fell faster than Treasury yields.

Selling pressure in the secondary didn't stop borrowers from tapping the primary markets Wednesday as the largest deal of the week priced.

A lackluster 10-year Treasury auction gave way to a weaker secondary muni market as traders said yields were two to three basis points higher in afternoon trading.

Supply continued to emerge in the primary markets Wednesday as more large borrowers tested demand, putting pressure on the secondary markets.

Issuers in California and Texas were met with ample demand Tuesday as they priced some of the largest new deals expected this week, a sign that investors are beginning to see value after two-month slide in the municipal bond market.

Issuers out of Texas took advantage of stability in the market with three deals each over $100 million leading issuance Tuesday.

A flood of borrowers tapped the primary market Tuesday, taking advantage of a calm period following Friday's selloff and weakening Monday.

A selloff in the municipal bond market Friday after a better-than-expected June employment number continued into Monday as yields rose further.

Activity was focused on the secondary market Monday afternoon as bonds maturing within 10 years were under the most pressure.

The largest deal of the week is expected to price in an overall weaker market Monday amid a calendar that could top $6 billion in new deals.

Light trading volume Friday on the Fourth of July holiday-shortened week didn’t stop a selloff in muni bonds as yields jumped with Treasuries on better-than-expected June employment data.

Following Friday's better-than-expected June employment number, municipal bond yields jumped, following Treasuries.

With the Fourth of July holiday cutting the trading week short, municipal bonds were able to spend most of it recovering from the recent selloff.

With most municipal bond traders still on vacation for the Fourth of July holiday, muni trading was quiet even as Treasury yields jumped on better-than-expected June employment numbers.