The municipal market was unchanged with a slightly firmer tone yesterday.

"There is some buying on the short end, but not much happening on the longer end," a trader in New York said. "Overall though, it's pretty quiet, and I'd say we're flat. The short end has come in a bit so far with demand, but it's hard to gauge, so on the whole, I'd call it unchanged. Nobody's getting any great deals out long, that's for sure."

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