The municipal market was mostly flat amid light to moderate secondary trading activity Tuesday, as an upsized $963 million tax-exempt New York City general obligation deal priced in the primary.

“The firmer tone carried through, even though there wasn’t a ton trading,” a trader in New York said. “In the belly of the curve, we might have been up a basis point or two. But you could call it flat and really not be wrong.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.