The tax-exempt market followed Treasuries lower Tuesday after consumer confidence rose to a five year high.

Tax-exempts followed the lead of Treasuries even though issuance is scheduled to be lighter than usual this week, and the market stands to benefit from June 1 reinvestment of about $34 billion in redemptions and coupon payments.

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.