The municipal market weakened Tuesday for the second consecutive day in light to moderate secondary trading, while traders braced for a heavy winter storm in the Northeast that may disrupt some market activity Wednesday.

“We’re probably weaker by two or three basis points,” a trader in San Francisco said. “The secondary is a bit sloppy, but business is getting done. Treasuries are off a little bit and we’re following suit for the most part.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.