The municipal market was unchanged to slightly firmer Friday amid fairly light secondary trading activity.
"The market is trying to catch up with some of the secondary stuff that didn't trade or was not looked at too much because of all the new issuance," a trader in Chicago said. "People have started to take a look at how to fill gaps where they didn't get their new issues. We can go to the July 1 rollover with plenty of money from June. The sense is that we may be one or two basis points better."