The municipal market was mixed Friday and Treasuries fell in the aftermath of the release of recessionary January employment data.

"We're pretty sideways," a trader in New York said. "There's a decent amount of activity out there for a Friday, but it's pretty mixed. We're off a bit on the long end, but on the short end we're actually better a basis point or two. And the intermediate range is pretty flat. So it's about as mixed as a day can get."

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