The municipal market was slightly firmer yesterday.

"It's been an interesting market," a trader in Los Angeles said. "What I think is happening is a lot of the new-issue stuff is getting digested, and that's where most trading desks' activities are. So those that don't have the new issues are trying to get the customer's attention, and the customers are just too busy with new issues. It's hard to get buyers' attention because they've got so many things coming their way."

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.