Municipal prices slipped 1/4 to 1/2 point in sympathy with the Treasury sector yesterday, forcing market players to debate for the third time in two weeks whether to sell off or buy the dip.

Reports of possible tax-relief legislation triggered a sell-off in the Treasury market of more than 1 point on the long end. Municipals lagged in the distance, but some off-the-run names fell nearly 1 point.

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