The municipal market was unchanged to slightly weaker Friday amid fairly light secondary trading activity.

“There’s still a bit of a weaker tone out there, just carrying over from yesterday, but there’s not a ton trading,” a trader in New York said. “We’re maybe down a basis point or two in spots, but overall I’d say we’re mostly flat and fairly quiet.”

The Treasury market showed mild gains Friday. The benchmark 10-year note was quoted near the end of the session at 3.86% after opening at 3.88%. The yield on the two-year was finished at 1.06% after opening at 1.08%. The yield on the 30-year bond finished at 4.75% after opening at 4.76%.

The Municipal Market Data triple-A scale yielded 3.06% in 10 years and 3.85% in 20 years Friday, compared to Thursday’s levels of 3.05% and 3.84%. The scale yielded 4.17% in 30 years Friday, which was unchanged from Thursday.

Thursday’s triple-A muni scale in 10 years was at 78.4% of comparable Treasuries and 30-year munis were at 87.4%, according to MMD, while 30-year tax-exempt triple-A general obligation bonds were at 93.5% of the comparable London Interbank Offered Rate.

In economic data released Friday, gross domestic product increased at a 5.6% annual rate in the fourth quarter, which was revised down from the 5.9% previous estimate, as business investments and private inventories were revised lower.

Economists polled by Thomson Reuters expected gross domestic product to be unchanged at 5.9% growth in the final revision, according to the median estimate.

Consumer spending slipped to 1.6% annual growth in the fourth quarter from the 1.7% previously reported.

Personal consumption expenditures, excluding food and energy purchases, increased 1.8% annually in the fourth quarter.

Economists had expected core PCE to increase 1.6%, according to the median estimate.

The University of Michigan’s final March consumer sentiment index reading was 73.6, compared to the preliminary March 72.5 reading.

Economists polled by Thomson Reuters had predicted a 73.0 reading for the index.

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