The tax-exempt market started to slow Friday afternoon as traders said the market quieted down significantly as the weekend approached.

"I'll sum it up in two words," a Boston trader said: "very slow."

On Thursday, the Municipal Market Data scale ended steady to slightly weaker. The 10-year yield rose one basis point to 1.70%. The two-year and 30-year yields finished steady at 0.34% and 2.80%, respectively.

Treasuries erased early morning losses and traded stronger in the afternoon. The benchmark 10-year yield and the 30-year yield fell two basis points each to 1.88% and 3.06%, respectively. The two-year yield fell one basis point to 0.25%.

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