The flood of new supply that has inundated the municipal bond market the past month will die out this week as issuers take a breather from selling new debt.

State and local governments are slated to sell just $709.3 million this week, according to data from The Bond Buyer and Ipreo, and could see as much $2 billion. The lull in the storm is a welcome reprieve for a market that absorbed a tidal wave of $11.16 billion last week. Eight billion is typical.

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