The tax-exempt market was steady Thursday morning ahead of another large primary issuance day. Traders said there has been demand for deals so far this week, but not enough to move the market dramatically.
Munis were steady Thursday morning, according to the Municipal Market Data scale. On Wednesday, the two-year yield closed flat at 0.31% for the third consecutive session. The 10-year yield finished steady at 1.73% for the third session, closing six basis points above its record low of 1.67% set Jan. 18. The 30-year yield fell one basis point to 2.91%, setting a new record low as recorded by MMD. The previous record low was 2.92% set Monday.