Top shelf municipal bonds ended weaker on Friday, according to traders, ahead of a hefty new issue calendar for a holiday-shortened week after the Rev. Martin Luther King, Jr. holiday.

Ipreo estimates volume for the week at $8.9 billion, up from a revised $8.2 billion of supply in the past week, according to updated figures from Thomson Reuters. The calendar is composed of about $7.4 billion of negotiated deals and around $1.5 billion of competitive sales.

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