Nearly all The Bond Buyer's weekly yield indexes decreased this week, as municipals were either flat or slightly firmer in each of the week's sessions.

"It has been reasonably firm over the last week," said Michael Pietronico, chief executive officer of Miller Tabak Asset Management. "My guess is the anticipation of the stimulus bill being passed was taking some money off the sidelines, and it looks like that's continuing to a point today. I would say, though, that this stimulus rally is effectively priced in as of right now. So if anything is to be expected moving forward, it is perhaps a little profit-taking, specifically inside of 10 years on the curve, which seems a little on the richer side at the moment."

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