The muni market was both “weird” and “apathetic” Wednesday, according to traders, who said most participants spent the day watching despite new deals that appeared to be well-received.
“The market is very wishy-washy,” a New Jersey trader said. “One minute it’s clocked, the other minute it’s back up. We are flat to up a little bit on the long end, intermediates are down a little, and the short end is flat to down. So it was a weird day.”