The tax-exempt market continued to post small gains Friday morning after Thursday's stronger session.

Still, traders noted the market felt quieter as the weekend approached.

"It's quiet but a bit stronger," a New York trader said.

On Thursday, municipal bond market scales finished stronger after posting losses Wednesday.

Yields on the Municipal Market Data triple-A GO scale fell as much as two basis points. The 30-year yield fell two basis points to 2.94%. The 10-year was flat at 1.90% for the second session while the two-year closed steady at 0.31% for the third session.

Yields on the Municipal Market Advisors 5% coupon triple-A benchmark scale ended flat to one basis point lower. The 30-year yield fell one basis point to 3.02%. The 10-year closed flat at 1.90% for the second session while the two-year closed unchanged at 0.35% for the 18th session.

Treasuries were stronger for the third consecutive session. The benchmark 10-year yield and the 30-year yield fell one basis point each to 1.97% and 3.16%, respectively. The two-year was steady at 0.26%.

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