The municipal market was slightly firmer in light trading Tuesday, as participants show little activity during the final full trading session of the week ahead of the Christmas holiday.

"There's not a whole lot going on, but there is some firmness out there," a trader in New York said. "There aren't too many people around, and not a lot of people pressing to get trades done, but stuff that is getting done is firmer. We're probably up two or three basis points overall at this point."

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