Top shelf municipal bonds rallied on Friday, traders said, with yields on some maturities falling by as much as 19 basis points to record lows after Britain voted to leave the European Union.

The yield on 10-year benchmark muni general obligation fell 16 to 19 basis points from 1.53% on Thursday, while the 30-year muni yield declined 15 to 18 basis points from 2.23%, according to a read of Municipal Market Data's triple-A scale.

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