The municipal market was slightly firmer Friday ahead of a three-day weekend in observance of Memorial Day.

"It's quiet, and people are ready for the long weekend, but there is some firmness out there," a trader in New York said. "We got weaker [Thursday], and now there's a bit of a bounce-back heading into the weekend. I'd say we're firmer about a basis point or two on the whole, just following Treasuries."

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