The municipal market was slightly firmer yesterday. Traders said tax-exempt yields were lower by about two or three basis points overall.

"We're definitely better again today, despite the weakness in Treasuries," a trader in New York said. "Business is definitely getting done, and there's a clear firmer tone out there. We're probably better a good two or three basis points right now, maybe four or even five out long. But we're definitely firmer, right across the board."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.