The Bond Buyer’s weekly yield indexes declined this week as the municipal market firmed in each of the week’s sessions.

“The big story is still steepening, to me,” said Evan Rourke, portfolio manager at MD Sass. “Outside of that, there was fairly strong demand going into [yesterday]. But [yesterday] you really started to see the slowdown a little bit, and I think some of that may be due to the fact that you’ve gotten to a point where people are starting to get comfortable with the trading levels on the bond insurers, and the news the last couple of days has thrown that all out of whack again, and people are trying to figure out what the right level is.”

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