The municipal market opened the holiday-shortened week unchanged to slightly firmer yesterday in light trading activity."It's quiet, but there's a bit of firmness out there," a trader in New York said. "You could call it unchanged and really not be wrong, but it definitely feels a little bit firmer. I'd say we're maybe flat to better by a basis point, in spots, at most."

"It feels a little bit better, but there's just not a lot of activity," a trader in Los Angeles said. "I'd be hard pressed to call it better by more than a basis point, but there's a firmer tone."

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