The tax-exempt market ended stronger Thursday as a flight to safety, led by Treasuries, buoyed municipals. Overall for the week, larger deals were received well despite yields ending up.
“The market is feeling better,” a Chicago trader said. “I’m not sure it’s as good as some of the bumps the Municipal Market Data scale is showing, but the trades that happened earlier were strong. If it is that strong, I need to mark up my paper and I’d be happy to sell it going into the weekend.”