The New Jersey Transportation Trust Fund Authority came to market with an upsized $412.7 million offering yesterday including taxable Build America Bonds, while the tax-exempt market continued to weaken.Traders said the market was off by as many as three to five basis points, with the weakness spilling into the new-issue market. The yield on the 30-year triple-A general obligation bond scale rose to 4.49% yesterday, up 14 basis points from last Wednesday, according to Municipal Market Data.

"It definitely feels weaker," a trader in Chicago said. "The attention is on the primary market, in which a few deals had to come a bit cheaper. If you want to get anything done in the secondary market, you're going to have to take a cut."

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