I would not normalize either track before mixing. If you max out one track, then you have no headroom for further processing. Once you get a final mix, then you may adjust the final stereo track if it isn't hot enough.
One tip I use to mix is to listen at a very low volume. If I can hear all the instruments, it will be good when louder. I also test the mix on lots of players, from good stereo systems to boomboxes to headphones to earbuds to cars etc.
IMO....
The above is what I would recommend.
The only time I've actually need to use normalizing is when I went all digital back in 2000 or so.
I had (24) R/R tapes full of finished originals spanning almost 20 years.
I have found no need to normalize since then because of the ease of getting good signal on basic tracks in the digital domain.
Regarding the BOLDED: when I listen at said very low volumes (my near fields being 27 year old Tascam S1010m) I focus on the bass line.
If i can barely hear the bass line, even if it sounds a frog hair lower in gain of the other instruments, this would be my first reference mix which I would then listen to at normal volume on my KRK 8 G2's.
If the bass is setting in the mix without being too loud then I would burn and test on all mediums noted above.
Having relatively good quality monitors (subjectively speaking) is very favorable plus but it's also a matter of knowing one's monitors over time in the mixing environment and how they translate.
Sorry for the novelette.
That's my take on it.....carry on.