The tax-exempt market opened on a quiet note as most traders in the northeast region braced for a heavy snowstorm, keeping activity muted.

"It's light activity," a Los Angeles trader said. "Treasuries are off so it feels dead. I'm sure it will be an early day for everyone."

Municipal bond market reads showed steady to stronger trading Thursday for the second consecutive session.

Yields on the Municipal Market Data triple-A GO scale finished one basis point lower. The 10-year fell one basis point to 1.80%. The 30-year yield held flat at 2.86% for the third session while the two-year closed at 0.34% for the ninth session.

The Municipal Market Advisors 5% coupon triple-A benchmark scale also showed steady to lower yields. The 10-year yield and the 30-year yield fell one basis point each to 1.83% and 2.94%, respectively. The two-year closed unchanged at 0.35% for the ninth session.

Treasuries were weaker Friday morning. The benchmark 10-year yield and the 30-year yield increased two basis points each to 1.98% and 3.19%, respectively. The two-year yield rose one basis point to 0.27%.

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