The tax-exempt market ended on a steady tone Thursday despite double-digits jumps in Treasury yields over the past two trading sessions.

Traders said limited primary issuance and heavy reinvestment money has kept the municipal market selloff in check, allowing munis to largely outperform their taxable counterparts.

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.