Trading in the tax-exempt market remained fairly quiet Monday afternoon as traders said volume was low and there wasn’t enough activity to move the market either way.
“It hasn’t been super active,” a San Francisco trader said. “We are getting the dust off from the long weekend. We are seeing a few bumps out there but we are also getting color from the street that said some things look softer. Some desks are bringing in stuff easier than they expected. But it’s quiet.”