Municipals surrendered 3/8 to 1/2 point yesterday in sympathy with Treasuries after developments involving Germany and Japan knifed the U.S. dollar.

"It's Treasuries being down 1 3/8s. and the dollar got banged up, which is the reason why Treasuries went down," a municipal trader said. The 30-year Treasury bond closed down slightly more than 1 1/8 points.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.