The tax-exempt market got off to a slow start Friday morning as the three-day holiday weekend approached.

The Securities Industry and Financial Markets Association recommended bond markets close early at 2 p.m.

“It’s very quiet because of the half day,” a New York trader said.

Thursday, yields on the Municipal Market Data scale ended as much as five basis points higher. The 10-year and 30-year yields increased four basis points each to 1.90% and 3.08%, respectively. The two-year yield increased one basis point to 0.29%.

The Municipal Market Advisors 5% scale showed yields rising as much as five basis points Thursday. The 10-year and 30-year yields increased four basis points each to 1.97% and 3.19%. The two-year yield rose two basis points to 0.35%.

The Treasury yield curve flattened Friday morning. The benchmark 10-year yield slid two basis points to 2.00% and the 30-year yield fell four basis points to 3.16%. The two-year yield increased one basis point to 0.26%.

In economic news, new durable goods orders were up 3.3% in April, or $7.2 billion, to $222.6 billion. The increase beat economists’ expectations of a 1.6% rise.

“U.S. manufacturing is facing global headwinds from Europe and China and the slowdown in manufacturing has been evident in recent economic reports, including industrial production and the ISM,” wrote economists at RDQ Economics. “However, against this backdrop, the April durable goods report provides a constructive reading on the sector. Through the volatility, orders have grown across a range of sectors over the last three months and shipments and order backlogs are expanding.”

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