The municipal market perked up this week, leaving The Bond Buyer’s yield indexes mostly lower. This comes after a period of lackluster trading that had settled in after a mid-April rally.

Tax-exempt yields fell through April as demand for tax-exempts increased partly due to concerns that sales of taxable Build America Bonds would reduce tax-exempt supply, particularly at the long end. The Municipal Market Data triple-A yield curve scale hit a low on April 22, when it reached 4.35%. Since then it has retraced an upward path, reaching 4.48% yesterday.

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