The tax-exempt market continued to post gains Monday, though it underperformed its Treasury counterparts, as retail buyers were offered several deals in the primary market over $100 million.

"It's slightly firmer. Munis are underperforming Treasuries," a Chicago trader said. "But there is not a whole lot of conviction." This trader added the market was one to two basis points stronger.

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.