The typical Friday malaise set in for tax-exempts as munis traded mostly flat in the morning session.

"It's Friday in munis," a New York trader said. "It's steady and not really following Treasuries."

Yields on the Municipal Market Data scale were  as much as four basis points stronger Thursday. The 10-year yield slid two basis points to 1.81% and the 30-year yield dropped three basis points to 2.95%. The two-year held steady at 0.28% for the sixth session.

The Municipal Market Advisors 5% scale also showed yields falling as much as three basis points. The 10-year and 30-year yields dropped three basis points each to 1.86% and 3.07%, respectively. The two-year yield held steady at 0.33% for a fifth consecutive session.

Treasuries were slightly weaker Friday morning. The benchmark 10-year yield rose three basis points to 1.90% and the 30-year yield increased four basis points to 3.13%. The two-year yield rose one basis point to 0.25%.

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