Municipal market participants face a full day of deals, but stronger than anticipated economic news and weaker Treasuries have led to light activity in the secondary market to start the day.
"It seems like everyone's trying to focus on the deals, and there are a lot coming in today," a trader in New York said. "It doesn't seem there's a whole lot of secondary activity. Accounts are really focused on the primary. There's not much to talk about in our space - that's seven years and in."