The municipal market opened Thursday's session with slightly lower yields following news that the U.S. government proved capable of stepping away from the financial abyss.

"The market's got a little better tone today," a trader in New York said. "We've got a little more supply coming in next week. We've got a little bit of a short-term relief rally, given the events in Washington. So, it's pretty clear that rates are going to be relatively low."

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