Tax-exempts were mostly unchanged Friday, in light activity, though with a slightly weaker tone."I'm not seeing a whole lot of movement," a trader in New York said. "There might be a bit of a weaker tone still persisting from yesterday, but there's not much activity, and I wouldn't move the scale. I'd call it pretty unchanged."

"It's fairly quiet, not a lot of trading going on," a trader in Los Angeles said. "I'm not seeing much movement, it's pretty flat on the whole, but there is a little bit of weakness in spots. But I'd still say we're flat, maybe just a touch of weakness."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.