Cash-strapped California is poised to dominate the municipal arena this week with two separate offerings that account for 85% of the estimated $14.11 billion in new volume expected in the long-term market, according to Ipreo LLC and The Bond Buyer.

New issuance — anchored this week by the two mammoth California issues worth a combined $12 billion —- is surging ahead of the impending expiration of the Build America Bond program at year’s end.

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