Taylor Riggs

Trading activity opened on a slow note Friday morning, after a week of negative headlines stemming from Puerto Rico, ahead of a three-day holiday weekend.

The investment grade municipal bond market traded lower Thursday, following Treasuries, though most traders eyed higher yielding bonds out of Puerto Rico in the secondary.

The municipal bond market traded weaker, following Treasuries, as traders offered mixed views on Puerto Rico debt following headlines this week.

Puerto Rico bonds out for bid in the secondary market were the focus of the municipal bond market, following news Wednesday that Massachusetts secretary of the commonwealth William Galvin announced his securities division began an inquiry to determine investors' exposure to Puerto Rico.

Puerto Rico bonds continued their price decline Wednesday after hedge fund manager Kyle Bass called the bonds “completely junk” and Massachusetts Secretary of the Commonwealth sent letters to large mutual fund managers inquiring about exposure to the territory’s credits.

A flurry of bids-wanted continued to surface throughout the trading session Wednesday, particularly Puerto Rico issues, though traders said sellers were cautious to give up bonds to buyers demanding near double-digit yields.

The municipal bond market continued its trudge with a steady to slightly weaker tone for the third session this week as the debt ceiling and government shutdown kept buyers on the sidelines.

The pricing of many of the week's largest deals Tuesday generated little excitement as traders made selective purchases in an otherwise quiet municipal bond market.

Municipal bonds "traded by appointment" Tuesday afternoon as market participants said business can get done on a selective basis.

The tax-exempt market opened on a steady note for the second session this week as bonds were bid out to buyers but there wasn't enough movement to push prices in either direction.

The tax-exempt market ended Monday’s trading session in what is becoming typical fashion, with unchanged yields during a light trading session.

The tax-exempt market continued to trade with steady yields Monday as the municipal bond market prepared itself for increased issuance expected to start pricing Tuesday.

The tax-exempt market opened Monday morning with a quiet, but slightly weaker tone as the government shutdown extended into its second week.

The tax-exempt market ended a lackluster week of light supply and limited trading on a quiet note with yields steady across the board.

The tax-exempt market was dominated in the past week by headlines concerning the government shutdown, the debt ceiling, Puerto Rico downgrades, and continued outflows from municipal bond funds, all creating a push-and-pull in the marketplace that left yields unchanged.

Proponents of the tax-exempt status of municipal bonds have come together to create a non-partisan political action committee, hoping to preserve the exemption and convey the importance of keeping it to the average taxpayer.

The tax-exempt market opened on a quiet note Friday, extending for another day a steady tone as the government shutdown and looming debt ceiling debate pushed traders to the sidelines.

The tax-exempt market ended firmer Wednesday following two trading sessions of steady to rising yields, as a stronger Treasury market and underwhelming new issue supply provided support for the market.

The tax-exempt market traded steady to slightly stronger Wednesday, moving in tandem with Treasuries.

The tax-exempt market opened slightly stronger Tuesday morning as traders said the municipal bond market reverted to basic supply and demand patterns.