The municipal market closed out the week largely unchanged, but with a slightly weaker tone."It's pretty quiet out there," a trader in New York said. "I'm not really seeing much movement. People seem like they're kind of ready for the weekend. I'd call it pretty flat at this point."

"There is a bit of a weaker tone, but it's mostly flat," a trader in Los Angeles said. "Maybe, you're off a basis point or so in spots, more on the long end. But for the most part it's just flat. It's a pretty quiet day, not a whole lot trading. People are kind of on the sidelines, waiting for the week to end."

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