The municipal market was mostly unchanged yesterday in light activity, while the North Texas Tollway Authority priced more than $1.4 billion of bonds, including $825 million of Build America Bonds."Right now, it just seems we're in the summer doldrums," a trader in New Jersey said. "It's a little slow, but some new paper might come into the market. Right now, though, it's just like a typical summer day. Anything we can get we'll take, but good ones seem to be out there, and it's just the matter of if you get the right level to see if they're going to trade. Unfortunately, I know it's tough to spin not much happening, but it seems to be that way."
"There's just not a lot going on today," a trader in Los Angeles said. "It's pretty quiet, not a lot of movement, not a lot trading in the secondary. Just a quiet summer Monday."