The primary market will again be severely diminished this week as several new issues remain in limbo against a backdrop of continued weakness in municipals and intense anxiety in the overall financial markets as a result of last week's government takeover of Washington Mutual and the pending resolution by Congress of the $700 million financial industry rescue plan.

Just $1.034 billion of new issuance is anticipated for sale this week, compared with a revised $1.42 billion last week, according to Thomson Reuters. Of the $831.5 million in negotiated deals expected, a $300 million New York Transitional Finance Authority building aid revenue sale could be one of the largest deals to surface pending market conditions and the outcome in Washington.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.