Most of The Bond Buyer's weekly yield indexes rose this week, as municipals weakened in most of the week's sessions, which saw light activity ahead of a long weekend.
"We've seen a little bit of steepening, mostly at the long end," said Evan Rourke, portfolio manager at MD Sass. "Yields on the long end have been backing up a little bit. Munis definitely underperformed, and gave up some relative value versus taxables over the course of the week. But really, we've been dominated by light trading volume, lack of interest, and people looking forward to the long weekend."