Selling pressure picked up and municipals showed some weakness for the first time since November on Tuesday following two days of rising U.S. Treasuries, but the asset class still outperformed that market’s double-digit moves to higher yields. Triple-A benchmark yield curves saw two to three basis point cuts, the largest one-day move in either direction since Nov. 30. Secondary trading ticked up with some concessions seen on various high-grade credits, particularly outside of five years.
Source: The Bond Buyer
