The municipal market was unchanged with a slightly firmer tone yesterday amid fairly light trading activity in the secondary market.

“There’s maybe a little bit of a firmer tone out there, but there still isn’t a whole lot of activity,” a trader in New York said. “We maybe got a little stronger on some Treasury gains early on today, but after the data, Treasuries are back around unchanged, and so are we. I think it’s still going to take some time for people in our market to come off the sidelines for the most part.”

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