The municipal market was firmer by about two or three basis yesterday, posting gains during the afternoon after a mostly unchanged morning.

"We were quiet in the morning, but we've picked up a bit," a trader in New York said. "I'd say we're better a few basis points at this point. Probably about two basis points overall, two or three even. I'd certainly say we're cheaper a good three basis points on the long end. It's still somewhat quiet, but there's more activity than there was."

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.