Demand for tax-exempts pushed secondary prices up 1/8 to 1/4 point yesterday, while investors focused on a $183 million Metropolitan Transportation Authority offering in the primary sector.

The market continued to enjoy a firm tone as recent supply dries up, and trading remains relatively active ahead of the holiday. Some prices made gains of 1/2 point; in the debt futures market, the March contract settled up 13/32 to 95.08. The market managed to outperform the Treasury sector slightly and the March MOB spread narrowed to negative 184 from negative 187.

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