The municipal market was unchanged to slightly weaker Friday.

"We're a little weaker, but it's pretty dead out there," a trader in Los Angeles said. "A lot of people took the day off, took a long weekend, and it's not going to get much better next week. Really the summer doldrums right now. But we're off maybe a basis point or two, mostly on the long end. It's pretty flat on the short end."

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