The municipal market was slightly firmer Monday.
"There wasn't a whole lot of trading going on, but there was absolutely a firmer tone," a trader in Los Angeles said. "Some parts of the curve might have even been unchanged, but overall, there's firmness in the market, mostly to the tune of one or two basis points. I've even seen it three better in some trades on the long end. So, it's quiet, but we're improved on the day."