The municipal market was mostly mixed Friday ahead of an early close and yesterday's Martin Luther King Day holiday.
"We've really gotten a ton firmer the last week or two, but we're slowing down a bit today," a trader in New York said. "Can't say it's unexpected. [Ten-year] Treasuries are off quite a bit, so there's that pressure, plus it's Friday, it's an abbreviated session ahead of a long weekend. It's been a busy week, and people are mostly ready for the weekend."