Upcoming supply held municipal prices at bay yesterday with the tone heaviest in the New York sector, which faces almost $1 billion in new issuance this week beginning with today's $295 million New York Power Authority offering.

Treasury prices made 3/8 point gains by session's end, but municipals closed unchanged to down 1/8 point in spots in sluggish trading, thanks to $6 billion in new deals that are slated to be priced this month. High-grade bond yields were up about two basis points on the day.

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