The municipal market was unchanged to slightly weaker Friday amid fairly light secondary trading activity, as the New Jersey Economic Development Authority priced $140 million of taxable debt consisting mostly of Build America Bonds.
“We’re somewhat flat, but there is a bit of a weaker tone,” a trader in New York said. “There’s not really any movement out on the long end, but we’re maybe down a basis point or so in the belly of the curve. But there’s not a lot trading. It’s fairly quiet.”