The stage is set for a large and eventful week as issuers in California and Florida prepare to thunder into the market with a pair of $2 billion deals that will share the new-issue spotlight after last week’s well-received flurry of volume amid late week gains, bankruptcy news out of Stockton, Calif., positive news from Puerto Rico, and weaker than expected employment report.

According to The Bond Buyer and Ipreo LLC, new volume is estimated at $9.71 billion this week, up from a revised $5.25 billion that was actually priced last week, according to Thomson Reuters. Many of those deals were well received, according to traders, and as a result bonds traded up in the secondary market approaching week’s end as municipals, following the strength of Treasuries, plummeted by as much as six basis points in 10 years to 1.80%, while the 30-year fell four basis points to 3.03%, according to Municipal Market Data.

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