Sellers emerged going into the close of municipal trading yesterday, pushing prices down 1/8 to 1/4 point as the market fidgeted nervously ahead of today's long-awaited unemployment data.

Trading has been subdued for two weeks, as many market participants were biding their time hoping for weak employment data which would likely spur an ease in monetary policy by the Federal Reserve Board. But late yesterday, a number of small bid lists flowed into the secondary, participants said.

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