A $1 billion note sale from Los Angeles County will kick off the summer note season  in the coming week in the primary market, while a $1 billion Massachusetts general obligation offering will highlight  more than $5 billion in new volume expected to arrive in the long-term market.

Ipreo LCC and The Bond Buyer estimate that $5.64 billion will test the waters following the selloff that sent the generic benchmark triple-A GO scale in 2043 to 3.22% by Friday morning -- 14 basis points higher than at the end of the prior week, according to Municipal Market Data.

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