Supply/demand imbalance hangs over market

The municipal market was little changed on Friday as a disappointing August jobs number punctuated an otherwise lackluster day of light trading activity ahead of the Labor Day holiday.

Trading fell to a trickle at about $2.1 billion near the close and triple-A benchmarks were unmoved, outperforming a cheaper U.S. Treasury market which saw the 10- and 30-year yield rise four and five basis points, respectively, while equities were mixed.

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