The municipal market ­weakened Monday in light to moderate secondary trading activity ahead of a modest ­new-issue calendar in the primary this week.

“It’s feeling a bit weaker,” a trader in Los Angeles said. “On the long end, we could be down three or four basis points. ­Overall, we’re down at least two basis points, but there is some trading going on.”

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.