The Bond Buyer’s weekly yield indexes mostly declined slightly this week as the summer doldrums set in for the muni market, and several large new issues in the primary market were stuck with lethargic trading and little movement.

“I think the market is captive to the lack of supply, and to the extent that supply is marginally lower than expected, it continues to support prices, so we’ll be at the behest of supply,” said Michael Pietronico, chief executive officer of Miller Tabak Asset Management. “If that was to turn around, then I would expect activity to pick up. But right now there’s just not enough supply for that to happen.”

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