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California water bonds highlight the light holiday-week calendar.

The Golden State keeps its issuance streak alive as it get set to sell $2.1 billion of general obligation bonds later this week. This deal is primarily a refunding — a result of bonds sold in 2009 under the Stimulus Act hitting their 10-year call date.

Green bonds and sustainable offerings are on tap this week as several sales are set to hit the market. Buyers are expected to snap up the paper that aims to fund clean water, school and housing initiatives.

Mike Alagna, head of product strategy for municipal data at Bloomberg, said in a market environment of shrinking margins and everyone being asked to do more with less, technology has saved the day for munis.

With rates declining, quality high-yield securities will bring yield, Danny Weeks, fixed income specialist at IFS Securities, told the National Muni Bond Summit.

Ahmed Abonamah, a senior counsel to the director in the SEC’s Office of Municipal Securities, told the National Muni Bond Summit SEC Chair Jay Clayton has concerns about the timeliness of issuers’ financial information disclosure.

If an infrastructure bill is to happen local leaders will have to be "squarely in the middle of it," Columbia, S.C. Mayor and U.S. Conference of Mayors president Stephen Benjamin said at the National Muni Bond Summit.

Investors will see municipal bonds of all stripes and shapes hit the market this week, with high-grades and high-yields competing with tax-exempt and taxable, all pricing into a declining yield environment amid recession worries.

With a mere $2.4 billion of municipal new issuance this week, investors will face stiff competition for paper.

Municipal bond buyers will see several big deals head their way this week. Taking the top spot is a $654 million deal from the Regents of the University of California to be priced by UBS while Citi is set to price the Lower Colorado River Authority's $370 million offering.