Some large bid-wanteds dotted municipal bond traders' screens Thursday morning, but few market participants have stepped up to buy, thus far.

The market has struck a weaker tenor early in Thursday's session, with yields backing up by up to four basis points in the four to 11 year range, according to one market gauge. But light activity supports a true selloff and dealers are discouraged from cheapening up their bond prices now, a trader in New York said.

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