The tax-exempt market ended the day flat and activity was light, even after Treasuries rallied on a worse-than-expected manufacturing number.

Bank of America Merrill Lynch priced about $1 billion of Massachusetts bonds for retail investors following a first retail pricing Friday. Institutional pricing is expected Tuesday. Though yields were raised from Friday’s levels, traders said the market felt stronger by the afternoon.

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.