The municipal market was unchanged to slightly weaker yesterday, with the weakness situated inside of 20 years, amid fairly light secondary trading activity.
“We’re a little bit weaker,” a trader in New York said. “It’s just sort of picking up where we left off last week. The short and intermediate part of the curve is down maybe a basis point or two, maybe three depending on what you’re trading. But out past 20 years, it’s totally flat.”