Munis just wouldn’t budge on Friday despite a rallying Treasury market. Traders say another week of heavy supply is keeping a lid on buying new paper, but broader uncertainty is capping any big sell moves.

The only spots on the curve to express some movement were from 2017 to 2020, where yields dropped a single basis point, according to Municipal Market Data.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.