The tax-exempt market traded steady Tuesday morning after a flat to stronger session Monday. Traders noted there was a bid in the market but munis weren't necessarily moving in either direction.

"There's a bid in the market," a New York trader said. "So it's not down, but it's not up. It's steady."

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.