The municipal market was firmer by as much as eight to 10 basis points in the belly of the curve Tuesday and two or three basis points elsewhere, as Morgan Stanley accelerated pricing on an upsized $750 million on behalf of California’s Sutter Health.

“The tone is better than it’s been, but there isn’t much of a calendar to prove things this week,” said Jay Alpert, executive vice president and manager of sales and trading at M.R. Beal & Co. “We’re still combating the mutual fund outflows, but [it’s] not like it’s raining bonds.”

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.