The tax-exempt market made late gains of 1/4 point yesterday, and traders reported a solid underlying tone that they hope will translate into a turn-of-the year spike.

For the last two months, prices have sagged as the Street slogged through heavy issuance. Market players consoled themselves with hopes of interest from investors laden with cash from coupon reinvestment in January.

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.