Municipals dropped 3/8 to 1/2 point yesterday as a sinking dollar weakened Treasuries and munis tagged along.

"At the moment, I think we're following governments," a municipal trader said yesterday. "If they're going down, we're going down."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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