The municipal market was firmer by about three basis points yesterday, following Treasury gains, as a $1.1 billion deal for New York’s Triborough Bridge and Tunnel Authority came to market.

“There’s been a good amount of action in the shorter end, primarily within about five years, and after that, it is sort of catch-as-catch-can,” a trader in Los Angeles said. “There’s not as much activity as I’d like to see in the intermediate and longer end.”

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.