Traders in the tax-exempt market restrained from making any big trades, choosing to wait until the majority of the primary market price later in the week.

The secondary market continued to see very limited activity throughout the day Tuesday.

"It's extremely quiet right now," a New Jersey trader said. "Most deals are pricing later in the week. We will take a look at pricings and make decisions then. But there is little in the secondary now."

In the primary market, most of the largest deals are expected to price Wednesday and Thursday.

Still, some deals priced Tuesday. RBC Capital Markets priced $99 million of Plaza Metropolitan District in Lakewood, Colo., revenue refunding bonds. Yields ranged from 1.00% with a 2% coupon in 2013 to 5.00% with a 5% coupon in 2040. The bonds are callable at par in 2022.

On Friday, the Municipal Market Data scale ended mostly steady. The 10-year and 30-year yields finished flat at 1.67% and 2.72%, respectively. The two-year finished steady at 0.33% for the fourth session.

After posting losses in the morning trading session, Treasuries were steady to firmer by afternoon. The two-year and benchmark 10-year yields fell one basis point each to 0.26% and 1.84%, respectively. The 30-year was steady at 3.03%.

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