The municipal market was unchanged to slightly firmer yesterday amid fairly light secondary trading activity, kicking off what should be a primary-driven week with more than $8 billion on the calendar.
“It’s not overwhelmingly active out there, but it’s Monday, so that’s not exactly unusual,” a trader in Los Angeles said. “I’d definitely say it’s flat out there. There’s really not much movement anywhere, though I guess we’re leaning a bit on the firmer side if anything. Depending on what you’re trading and where on the curve you’re talking, you might be able to pick up a basis point or so. But it’s pretty quiet, and pretty flat.”