The municipal market was slightly firmer yesterday, posting gains for the first time in nearly two weeks.
"It's been a while since we've had a day that was just better, almost a couple weeks now, after that little run of selling off a little bit," a trader in San Francisco said. "But today, we are definitely doing a little better. I'd say we're up a good two basis points, maybe three in spots. There was a decent amount of activity out there today, mostly showing up later in the day. It had been a pretty quiet morning. But some business got done, and we were a bit better."