A nearly $700 million Maryland general obligation sale will headline the primary market this week — despite facing potential spending constraints — and will be among several other Northeast issuers that will dominate the new-issue calendar following strong activity last Friday.

March volume seems to be kicking off at a brisk pace as an estimated $5.42 billion is expected to be priced this week, according to The Bond Buyer and Ipreo LLC. The brisk volume is in contrast to February’s volume, which was down 22% over the same period in 2012, according to Thomson Reuters. Last month, issuers sold $21.1 billion in 894 deals, compared to $27 billion in 1,051 issues in February 2012.

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