The tax-exempt market managed to end Wednesday on a steady note, allowing the market to take a small breather after what has been a two-week collapse in municipal bond prices.

Since hitting record low yields on Nov. 28, muni yields have soared almost 40 basis points on the long end. That streak took a small pause as traders said the selloff seemed less frantic Wednesday.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.