Continuing a new-year trend, the tax-exempt market started firm Monday and ended firmer. Munis rallied the first week of trading and continued into the second week as yields were at or within one basis point of record lows.

“The market maintained the positive tone that it exhibited for most of last week, no doubt helped along by a rallying Treasury market for most of the day,” said a trader in New York.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.