The municipal market was weaker Wednesday amid light to moderate secondary trading activity as new issuance took center stage, led by a Connecticut offering in excess of $700 million.

“We’re sort of picking up where we left off yesterday, though not quite to the same extent,” a trader in New York said. “We’re off maybe four or five basis points in 10 years, and perhaps two or three weaker further out. On the really short end, maybe one or two weaker.”

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