The tax-exempt market continued to see extremely quiet trading as market participants said very little was going on.

"It's absolutely dead," a Chicago trader said. "There is no calendar this week - it's dismal. The secondary is trading by appointment. It's just one of those days. But it's expected. The Monday after Super Bowl is the least productive work day of the year."

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.