The summer doldrums will take hold of the municipal market this week as new-issue volume dips to $3.96 billion from $5.21 billion last week, according to Thomson Reuters, and a $326.9 million District of Columbia general obligation offering takes the lead as the largest deal on the negotiated calendar.

By comparison, last week, the market kicked off August with an $800 million New York City GO offering and a $717.8 million Bay Area Toll Authority revenue sale.

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