The municipal market was unchanged to firmer by about one or two basis points yesterday, as some of the week’s larger deals were priced in the primary.
“It’s a little bit firmer out there, but it really depends on what you’re trading,” a trader in Los Angeles said. “I’m seeing strength more so on the long end than anywhere else. If we’re better it’s maybe a basis point or two. But you could still call it fairly unchanged and not really be wrong.”