The municipal market was unchanged to slightly firmer yesterday as trading activity picked up a bit after a sleepy start to the holiday-shortened week.

“We were pretty much unchanged today. We pretty much traded where we traded yesterday,” a trader in New York said. “We have unemployment at the end of the week, so let’s see. The Treasury market sold off quite a bit today, but we did not follow. We kind of held in there. And I think that was a surprise.”

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