Puerto Rico Electric Power Authority bonds traded stronger in the secondary market amid an overall quiet session.

Traders said the bonds looked cheap when the issuer priced in the primary Wednesday and were able to sell them higher in the secondary.

“There is some trading in the secondary higher,” a New York trader said. “But there is not much trading.”

A second trader in New York said odd-lot trades were dominating.

Interactive Data said one CUSIP of PREPA 7s of 2043 traded one to six basis points lower in yield in institutional size blocks and as much as 33 basis points lower in yield to retail investors.

Another CUSIP of PREPA 7s of 2040 traded five basis points lower in an institutional trade, Interactive Data said.

Thursday, yields on the Municipal Market Data scale ended steady to one basis point lower. The 10-year yield slipped one basis point to 2.72%. The 30-year was steady at 4.28% for the third session and the two-year finished flat at 0.43% for the 17th consecutive session.

Yields on the Municipal Market Advisors scale were mostly flat Thursday. The 10-year and 30-year yields were steady for the third session at 2.90% and 4.34%, respectively. The two-year was unchanged at 0.54% for the second session.

Treasuries were stronger Friday afternoon. The benchmark 10-year yield slid one basis point to 2.58% and the 30-year yield dropped three basis points to 3.64%. The two-year was steady at 0.31%.

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