The municipal market was mostly unchanged Friday in light trading activity following a barrage of new issuance this week.

"There's not a whole lot going on," a trader in New York said. "It's fairly quiet. I think people are just sort of winding down from the big calendar. We handled the supply pretty well; there was enough appetite out there to meet the supply, so that was positive. As for today, though, it's pretty quiet and pretty flat. There's maybe a touch of weakness on the long end, but I'd call it flat."

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