The municipal market was unchanged to slightly weaker Thursday amid fairly light trading activity in the secondary.
“We’re a little bit weaker,” a trader in New York said. “It’s more in the shorter end of the curve, inside of 10 years, and it’s only about a basis point or two. The long end is pretty well unchanged. So overall, I guess I’d call it flat to slightly weaker. But there isn’t a whole lot trading out there right now. It’s fairly quiet.”