The municipal market was unchanged to slightly weaker yesterday, with the weakness again situated at the long end of the curve, as Illinois came to market with $1 billion of Build America Bonds.

“It’s been more or less the same story all week,” a trader in New York said. “We’re not seeing much movement on the shorter and intermediate parts of the curve, but the long end is cheapening up. Today is no exception. We’re about one or two basis points weaker out long, and mostly unchanged aside from that.”

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