The municipal market was unchanged to slightly firmer, as market participants returned to work after the Veterans Day holiday.

“There’s some strength in spots,” a trader in Los Angeles said. “There’s not too much going on, and we’re not seeing too much movement, but I think depending on the credit, you can definitely pick up a basis point or two. It’s not really any particular part of the curve, it’s sort of here and there. But there are pockets of firmness.”

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