The municipal market was mixed and largely flat Friday amid fairly light secondary-trading activity.
“It’s a bit of a mixed bag,” a trader in New York said. “There isn’t a whole lot of activity, and there isn’t a ton of movement either, but the tone is firmer, for the most part, except for the long end. We’re even a little weaker out there. So overall, I’d say we’re mostly flat, but you could say we’re a little bit weaker out long and a little bit better inside of about 20 years.”