The municipal market was unchanged Friday amid fairly light secondary trading activity and ahead of a long weekend in observance of the July 4 holiday.

“It’s very quiet,” a trader in New York said. “There’s very little going on. Just minor retail-type trading, otherwise pretty much everyone has gone for the day. There’s not much trading at all. Next week should be firm, there is no reason to go down at this point. It will be a lighter week as far as new issues are concerned.”

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