The municipal market was unchanged to slightly firmer Friday, in light secondary trading activity."There's not a ton of activity, but we're doing a little bit better," a trader in New York said. "I'd say we're probably better a basis point or two. But it's real quiet."

"A lot of people are on the sidelines heading into the weekend, but there's a decent bid, and on the long end, we're probably cheapening up a basis point or so," a trader in San Francisco said. "So I'd say we're closer to better by a basis point than flat, especially on the long end. There's not a lot of movement on the short end, but I think I'd call it one better on the whole."

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