In the wake of November’s hefty volume and the sell-off it helped precipitate, the market is poised for an estimated $12.11 billion of supply this week as issuers continue to race the clock against the impending expiration of the Build America Bonds program, according to Ipreo LLC and The Bond Buyer.

The market absorbed a revised $9.13 billion of new issues last week, according to Thomson Reuters. Demand was strong for the biggest deals even though Treasury weakness caused the tax-exempt market to give up some gains Thursday and Friday. The generic triple-A general obligation scale in 2040 ended at a 4.36% yield Friday, after closing at a 4.31% Nov. 29.

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