Billion-dollar deals from issuers in California and Texas will dominate the municipal market this week on the heels of two similar offerings that priced last week, and at a time when investors continue to clamor for paper in the face of a nearly $50 billion supply shrinkage this year.

Supply-hungry investors, however, will see only a little more than half of last week's supply as an estimated $4.25 billion in total long-term volume is expected in the primary market, according to Ipreo LLC and The Bond Buyer. Last week the market absorbed a revised $8.36 billion in total long-term volume, according to Thomson Reuters.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

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