With trading activity in the market somewhat light, and yields rising up to three basis points across the scale, investors are looking ahead to the few sizeable deals set to price in the new-issue market later this week.

"We could see some interest in some of those larger deals out there, like that [$520 million] New York City deal, but it's a relatively light new-issue calendar this week," a trader in New York said. "Still, there's definitely a need for some fresh paper out there, so we'll see what happens."

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