Trading in the tax-exempt market continued to remain subdued Monday afternoon as traders said they were waiting for the primary deals to provide direction.

"The bids aren't good in the secondary so I don't know if people are waiting to see how deals come or what's going on," a Chicago trader said. "It's like this a lot on Mondays."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.