The municipal market was quiet and largely unchanged yesterday, in light to moderate activity."It's pretty quiet," a trader in New York said. "We're really getting deep into summer now, and the doldrums that come with it. There's very little movement, very little activity. We're just flat."
"There isn't much activity in the market," a trader in Los Angeles said. "We're relatively unchanged, and there just isn't a whole lot of trading. It's a slow time in the muni market, and I think we'll remain relatively slow on through Labor Day. It's typically what happens in this market, and this year is no exception, to this point."