The municipal market was slightly firmer Friday amid fairly light secondary trading.

“There isn’t a whole lot going on out there, but there is some firmness,” a trader in New York said. “The secondary market is somewhat quiet, but I think we’re better a good one, maybe two or three basis points in spots.”

“We’re a bit firmer, pretty much across the board,” a trader in Los Angeles said. “Certain parts of the curve are firmer than others. The long end in particular is pretty flat compared to the rest of the curve, but I think we’re still picking up a basis point or so out there. But overall, I’d say we’re a good two or three basis points better on the day.”

The Treasury market mostly showed some losses Friday. The yield on the benchmark 10-year note opened at 3.34% and was quoted near the end of the session at 3.36%. The yield on the two-year note opened at 0.70% and was quoted near the end of the session at 0.73%. The yield on the 30-year bond was quoted near the end of the session at 4.29% after opening at 4.27%.

Friday’s Municipal Market Data triple-A scale yielded 2.80% in 10 years and 3.77% in 20 years, after levels of 2.81% and 3.79%, respectively, Thursday. The scale yielded 4.31% in 30 years Friday, after Thursday’s level of 4.31%.

As of Thursday’s close, the triple-A muni scale in 10 years was at 83.9% of comparable Treasuries, according to MMD, while 30-year munis were 101.2% of comparable Treasuries. Also on Thursday, 30-year tax-exempt triple-A rated general obligation bonds closed at 103.9% of the comparable London Interbank Offered Rate.

Trades reported by the Municipal Securities Rulemaking Board mostly showed some gains. Bonds from an interdealer trade of University of Texas 5s of 2023 yielded 3.52%, one basis point lower than where they traded Thursday.

A dealer sold to a customer taxable Los Angeles Unified School District Build America Bonds 5.75s of 2034 at 6.05%, even with where they were sold Thursday.

Bonds from an interdealer trade of Virginia State Housing Development Authority 4.3s of 2022 yielded 4.25%, two basis points lower than where they traded Thursday. Bonds from an interdealer trade of taxable Jacksonville Electric Authority BABs 6.41s of 2034 yielded 6.39%, down one basis point from where they traded Thursday.

A dealer sold to a customer taxable New Hampshire BABs 6.26s of 2029 at 6.25%, one basis point lower than where they traded Thursday. A dealer sold to a customer Minnesota Housing Finance Agency 5.1s of 2040 at 5.13%, one basis point lower than where they traded Thursday.

A dealer sold to a customer Illinois Finance Authority 6.5s of 2039 at 6.60%, two basis points lower than where they were sold Thursday.

A dealer sold to a customer New York City Municipal Water Finance Authority 4.75s of 2033 at 4.83%, down one basis point from where they traded Thursday.

The economic calendar was light ­Friday.

Activity in the new-issue market was light Friday.

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