When issuers head to the municipal market with a bevy of sizable new offerings the week of March 18 they will be counting on more of the strong demand and less of the weakness that followed last week's largest deals and forced underwriters to institute some handsome yield concessions.

The largest benchmark deal to test the market's volatility will be the $1.4 billion revenue financing from the New Jersey Turnpike Authority. Planned for pricing by JPMorgan on Wednesday, it will headline an estimated $9.51 billion of new volume, according to The Bond Buyer and Ipreo LLC, compared to a revised $6.08 billion that was priced last week, 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.