The municipal market firmed slightly yet again Tuesday amid light to moderate secondary trading, with 10-year yields dipping to yet another all-time low, maintaining firmness despite a Treasury sell-off.
"We just keep firming up no matter what, it seems," a trader in New York said. "Yesterday, Treasuries rallied and we went up a couple of basis points. Today, Treasuries are backtracking and we're up a couple of basis points. We just keep rolling."