The municipal market was slightly firmer yesterday. Traders said tax-exempt yields were lower by one or two basis points overall.
"Treasuries were off today, but it didn't have any impact on our market," a trader in Los Angeles said. "There was definitely a solid firm tone today, and we were better probably a basis point or two, though I would say it was more on the two end than the one. Seems like we're poised to finish out this week pretty positively after the weakness we've had in the couple of weeks prior."