With the majority of new issues priced earlier in the week, the tax-exempt market took direction from Treasuries as investors avoided risker securities following poor economic data Thursday morning.

The week’s last major deal came to market Thursday as Morgan Stanley sold $450 million of Dallas Fort Worth International Airport joint revenue improvement bonds, rated A2 by Moody’s Investors Service, A-plus by Standard & Poor’s, and A by Fitch Ratings.

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