Taylor Riggs

Driven by cheap prices Monday and Tuesday, municipal bond yields ended lower for the week after borrowers flooded the primary to take advantage of demand and buyers spurred secondary trading.

The tax-exempt market opened on a steady tone Friday morning as traders digested the week's rebound after losses earlier in the week.

Municipal bond yields fell again Thursday, coming off record trading volume earlier in the week, following a three-day selloff that had left yields nearly 60 basis points higher.

The tax-exempt market posted gains Thursday afternoon after a large rally Wednesday that pulled yields back down 20 basis points.

A small buying spree continued Thursday morning following a big rally Wednesday led by the primary market.

In a sharp reversal, buyers took advantage of cheap municipal bonds relative to Treasuries and met issuers in the primary market with ample demand.

Issuers in the tax-exempt market had a field day Wednesday as a bevy of borrowers tapped the primary market and deals were met with solid demand.

Following one of the worst selloffs in recent memory that cheapened municipal bonds nearly 60 basis points in three trading sessions, new deals priced Wednesday in hopes of taking advantage of cheap prices and building demand.

A handful of issuers is expected to brave the primary market Wednesday as the municipal bond selloff waned after the biggest three-day plunge in more than a quarter century.

Buyers began to emerge in the tax-exempt market Tuesday afternoon as the selloff stabilized and the rise in yields slowed to single digits.

Bid lists continued to surface Tuesday morning as selling pressure offset any small buying that was happening in the muni market.

The tax-exempt market took another beating Monday as the 10-year yield rose to a 24-month high and traders said demand for municipal bonds was still deteriorating.

The tax-exempt market continued to take a beating for the third consecutive session as issuers postponed new deals. The borrowers that braved the market paid a steep price.

The tax-exempt market opened as much as 10 basis points weaker Monday morning, traders said, though it was definitively better than the 20 basis-point-selloff seen on both Thursday and Friday of last week.

The tax-exempt market jumped on Mr. Toad's Wild Ride Friday as a massive selloff continued and liquidity dried up.

The tax-exempt market continued to purge Friday afternoon as traders said bond yields jumped another 20 basis points after rising double digits Thursday.

The tax-exempt market opened weaker Friday morning as selling pressure pushed municipal bond yields higher, extending the fallout from Federal Reserve Chairman Ben Bernanke's comments Wednesday.

The municipal bond market took a severe beating for the second consecutive session Thursday as the fallout from Federal Reserve chairman Ben Bernanke’s testimony Wednesday continued into another day and issuers were forced to delay their pricings.

The tax-exempt market continued to head lower Thursday afternoon after a big selloff Wednesday, prompting issuers to postpone deals.

The biggest deal of the week in the tax-exempt market was postponed Thursday morning after one trader called the session a "massacre."