The municipal market was quiet and somewhat mixed yesterday, amid fairly light trading activity.“We’re pretty quiet, but you can pick up a basis point here and there,” a trader in New York said. “The gains are spotty. We’re probably relatively unchanged on the whole, but maybe one or two firmer on the long end, and a basis point better here and there elsewhere.”

“We’re virtually flat overall, but there was a bit of movement in either direction,” a trader in Los Angeles said. “We were a bit firmer out long, and as the day dragged on, I think we even saw some losses, mild ones, on the short end. I’m talking like a basis point or so, in spots. Overall though, not much activity, and pretty much flat at the end of the day.”

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