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."