The municipal market was unchanged to slightly firmer Friday amid light to moderate secondary trading.
“For such a quiet week, it’s a fairly atypical Friday,” a trader in New York said. “It’s not like we’re setting the world on fire or anything today, but there is some decent activity, people are getting some deals done. The early part of this week, you could hear a pin drop out there. People are coming off the sidelines today a bit, mostly based on what’s going on with Treasuries, but we’ve also got a pretty decent calendar coming next week, so we should see people putting some money to work.”