PRIMARY BOND MARKET
Municipals were weaker amid more selling pressure to close out the week, U.S. Treasury yields rose with the 10-year sitting firmly above 3% and equities ended in the red.
Triple-A muni benchmarks were cut up to four basis points while UST yields rose five to 10 basis points five years and out.
Muni to UST ratios were at 84% in five years, 91% in 10 years and 99% in 30, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five at 82%, the 10 at 91% and the 30 at 100% at a 3:30 p.m.