The bulk of the week’s new issuance hit the primary market yesterday, led by a $900 million Pennsylvania competitive sale that included more than $600 million of taxable Build America Bonds, against the backdrop of a slightly firmer secondary market.

In the new-issue market, Pennsylvania competitively sold $900 million of debt to Barclays Capital with a structure that includes $604.1 million of taxable BABs maturing from 2020 through 2030, and $295.9 million of tax-exempt GO refunding bonds maturing from 2011 to 2019.

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