The primary market is set for yet another week of hyperactivity, as issuers make one final push to get advance refundings done before they disappear.

VOICEOVER: The muni market melee will continue with another week of elevated issuance before the Holidays. Although the estimated $11 billion of volume is less than the past two weeks, it is still greater than the average week this year.

This week marks the final push for issuers, as they rush to complete advance refunding deals before they are outlawed in 2018. Issuance of private activity bonds will be strong too, as these deals were already on the calendar before the details of tax legislation were set and demand is strong.

The market has handled the influx of issuance so far, and investors still have money to be put to work in what could be the last investing opportunity for a while: with the holidays around the corner, supply is expected to be meager at the start of the New Year.

I’m Aaron Weitzman, and this has been your Muni Minute.