Municipals were steady to firmer in spots Monday, while U.S. Treasuries strengthened inside five years but key parts of the curve remained inverted while equities ended in the black. Triple-A municipal yield curves were relatively stable, while the two-, three-, five- and seven-year UST were still sitting above the 10- and 30-year. More activity surfaced in the municipal market on Monday as the first full week of the second quarter got underway and after last week ended with more of a bid from retail accounts. “We have seen some pretty good situations coming out on the longer end; the maturities have a firmer tone compared to last week,” a New York trader said Monday afternoon. The overall appetite for municipal bonds, he said, picked up noticeably at the end of last week.
Source: The Bond Buyer
