The municipal market was largely unchanged yesterday with a slightly weaker tone, as Minnesota eliminated the refunding component of its originally scheduled $906 million deal slated for later this week.

“There’s really not much movement out there at this point,” a trader in New York said. “There’s a bit of activity here and there, but we’re pretty unchanged overall. It’s kind of quiet, and I think we might have just hit a level late last week where we’re going to have some stability for a bit. I guess time will tell.”

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