Nearly all of The Bond Buyer’s weekly yield indexes declined this week as tax-exempts grew firmer amid light secondary trading.
“There was better buying at the front of the yield curve and also there was a little bit more supply at the long end,” said Matt Fabian, managing director at Municipal Market Advisors. “The reinvestment demand continued and [we also saw] sympathetic moves with the Treasuries. Treasury yields are just so strong. But [we’re still seeing] very, very light trading.”