Aside from an $800 million New York City general obligation refunding issue planned for Wednesday, there will be few large deals in the municipal market this week as approximately $5 billion in new issuance is expected on the heels of an equally-quiet end to last week.

Some municipal experts say the current supply is adequate for existing demand, while others say the situation could get worse -- especially approaching next week’s Memorial Day holiday when supply usually tapers off and the spring rollover season, when investors are flooded with June 1 and July 1 coupon and maturity payments that need to be reinvested.

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