Municipal bond prices ended unchanged to down by as much as point Friday.
One trader described the market as "extremely quiet and tentative" after Thursday's "turmoil," when stronger-than-expected economic statistics and a weak dollar drove the 30-year Treasury bond down 1 1/8 points. A municipal analyst said on Friday that dollar bond prices were off 1/8 point, while yields on high-grade issues rose by five basis points through the intermediate range. Some traders Friday judged the market unchanged. "The bid was spotty -- I would say there's a tentative unchanged bid in the Street," said one trader, adding that he didn't see much selling Friday.