Nearly all The Bond Buyer’s weekly yield indexes declined this week, as the municipal market carried a firmer tone throughout most of the week, despite little day-to-day movement.
“There’s low momentum in munis, and not a lot happening,” according to Evan Rourke, portfolio manager at Eaton Vance. “There’s a little bit of flattening at the long end of the curve. Coming into the week, there was a fair amount of overhang. Even today, it seems to me that there is more flexibility on the offered side.”