The tax-exempt market was steady to stronger Friday morning after a substantial rally this week that pushed the 10-year yield down eight basis points and the 30-year yield down 16 basis points.

The Municipal Market Data scale was not updated by press time. But on Thursday, the 10-year muni yield fell three basis points to 1.74%, hovering seven basis points above its record low of 1.67% set Jan. 18. The 30-year yield plummeted six basis points to 2.96%, beating the previous record low of 3.02% set Wednesday. The two-year was steady at 0.32% for the 29th consecutive session.

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