Munis richen slightly out long, USTs firm

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Munis were a touch firmer out long Monday, as U.S. Treasuries saw gains and equities ended up.

The muni market saw a better tone to start the week, a “breath of fresh air” after the two previous Mondays were “horrendous,” said Jock Wright, an underwriter at Raymond James.

The positivity from the Treasury market has carried over into the muni market, with several deals accelerating pricing, he said.

If “we get another day of this, that will help the markets continue to trade in a better place,” Wright said.