Although some big issuers were considering derivatives last week, most dropped their plans by the time they headed to market, leaving the week's activity to smaller issuers.

Merrill Lynch & Co., for example, considered including about $20 million of derivatives in a 2012 maturity of a $420 million Dade County, Fla., issue, market sources said. But the derivatives were eliminated when the deal was repriced.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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