The week's largest deals were set to price for institutions Tuesday morning, commanding most of the market's attention and the secondary took a back seat.

Traders said the tone was steady to weaker after mostly firming last week. "Tuesday morning a lot of new wires come out for the week and I know the larger ones are what people focus on," a New York trader said. "There was a decent amount of bid-wanted flow, which was moderate this morning."

With more supply expected this week and Treasuries weaker Tuesday morning, municipals traded softer, this trader said.

In the primary market, Bank of America Merrill Lynch is expected to price for institutions $806.8 million of Hawaii general obligation bonds, following a two-day retail order period. The bonds are rated Aa2 by Moody's Investors Service and AA by Standard & Poor's and Fitch Ratings.

In the second retail order period Monday, yields on the first series of $635 million ranged from 1.16% with a 5% coupon in 2018 to 4.16% with a 4% coupon in 2033.Portions of bonds maturing between 2025 and 2033 were not offered for retail. The bonds are callable at par in 2023. Yields were raised one and two basis points on bonds maturing beyond 2021 from the first retail order period.

The second series of $35.6 million was offered via sealed bid.

The third series of $58.6 million yielded 0.37% with 3% and 5% coupons in a split 2015 maturity.

The fourth series of $27 million yielded 0.57% with 3% and 5% coupons in a split 2016 maturity.

Yields on the fifth series of $50.6 million ranged from 0.84% with a 3% coupon in 2017 to 2.68% with a 3% coupon in 2023. Yields were raised one and two basis points on bonds maturing between 2021 and 2023 from the first retail pricing.

B of A Merrill is also expected to price for institutions $366 million of triple-A rated Massachusetts transportation fund revenue bonds for the accelerated bridge program. In retail pricing Monday, yields ranged from 2.40% with a 5% coupon in 2023 to 4.35% with a 4.25% coupon in 2040. Portions of bonds maturing between 2029 and 2043 were not offered for retail. The bonds are callable at par in 2021.

Citi is expected to hold a second retail order period for $288.2 million of Massachusetts federal highway grant anticipation notes also for the accelerated bridge program. The bonds are rated Aa1 by Moody's, AAA by Standard & Poor's, and AA-plus by Fitch. Institutional pricing is expected Wednesday.

In retail pricing Monday, yields ranged from 0.52% with 3% and 4% coupons in a split 2016 maturity to 3.47% with a 4% coupon and 3.27% with 5% coupon in a split 2027 maturity. The bonds are callable at par in 2022. A second retail pricing is expected Tuesday followed by institutional pricing Wednesday.

B of A Merrill is expected to price $437.9 million of New Jersey Economic Development Authority bonds subject to the alternative minimum tax for the Goethals Bridge Replacement Project. The bonds are rated BBB-minus by Standard & Poor's and Fitch.

On Monday, the triple-A Municipal Market Data scale ended steady after weakening on Friday. The 10-year and 30-year yields were flat at 2.46% and 4.06%, respectively. The two-year was steady for the fifth session at 0.34%.

Yields on the Municipal Market Advisors benchmark scale ended as much as one basis point weaker. The 10-year and 30-year yields were steady at 2.62% and 4.25%, respectively. The two-year was flat for the fourth session at 0.48%.

Treasuries were weaker Tuesday morning after a firmer session Monday. The benchmark 10-year and 30-year yields rose three basis points each to 2.64% and 3.73%, respectively. The two-year was steady at 0.32%.

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