Municipal underwriting desks took last week off as a year-long rally of supply dried up, allowing bond prices to move higher and yields on The Bond Buyer's indexes to dip as much as six basis points.

The 20-bond index fell six basis points, to 6.19% from 6.25% a week ago. The 11 -bond index was down five basis points, to 6.10% from 6.15% last Thursday.

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