The municipal market was largely unchanged Friday, with patches of firmness on the long end of the curve."It's fairly quiet," a trader in New York said. "There are some bits and pieces trading, but people are mostly just ready for the weekend. We're seeing a bit more activity on the long end, you might even pick up a basis point or two out there, but overall, it's pretty flat and mostly quiet."
"I think the market definitely feels firmer," a trader in Los Angeles said. "Now, whether there is enough activity out there to actually move the scale is another story. But there is definitely a firmer tone, and you could even say it's better two, maybe three basis points. But there's not a whole lot going on, so you could call it mostly flat too."