The Bond Buyer's weekly yield indexes declined this week, as tax-exempt yields fell in all but one of the week's sessions.
"The market stayed firm over that period of time, and I was kind of surprised," said Fred Yosca, managing director and head of trading at BNY Capital Markets. "I didn't think the market really had that much going for it, and I had a relatively light position, but I continued to see business. That's still the case. So I'm kind of at a loss to explain it, but there continues to be retail demand. That seems to be what's driving it."