The tax-exempt market made an about-face Friday, posting gains for the first time in more than a week after traders said municipal bond yields looked very cheap relative to Treasuries.

Muni yield to Treasury yield ratios closed mostly above 100%, enticing non-traditional buyers to enter the market.

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.