The municipal market was flat to slightly firmer Wednesday amid light to moderate secondary trading activity, as the New York City Transitional Finance Authority came to market with $900 million of taxable and tax-exempt debt.
“There’s not a lot of activity out there,” a trader in New York said. “With that said, we’re feeling a bit better. We’re probably up a basis point or two once you go about 10 years and out. Inside of that, we’re fairly flat.”