The municipal market gained after a nearly two-week spell yesterday, with the taxable Build America Bonds issued earlier this week shooting up in sprightly second-day trading.

Traders said the tax-exempt market firmed, especially beyond 10 years. The market had hit a lull recently, with the yield on a triple-A rated, 30-year general obligation bond steadying at 4.58% over the previous three trading days, after gradually pulling back from a 2009 low of 4.35% that it hit April 22, according to Municipal Market Data.

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