The tax-exempt market opened Thursday morning on a steady to stronger note, though traders said activity has been relatively quiet all week.

"It's a little stronger today," a New York trader said. "You can hold your bid and people are hitting that. I came down an eighth of a tick to get some flow going but for the most part people are holding tight on prices. But there is not a whole lot going on. It's definitely flat to up slightly but your justification is only from a few trades that have gone on."

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.