Municipal bond yields declined as much as three basis points in early trading Thursday, but demand failed to keep pace in the afternoon. At day’s end, yields were flat to a single basis point firmer.

The catalyst in both cases was the Treasury market, as Wednesday’s broad-based rally was nearly erased Thursday.

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.