Dormitory Authority of the State of New York and Dallas’s water and sewer system are among issuers borrowing about $4.5 billion of long-term debt this week, Bloomberg data show.
At 4.67 percent, benchmark 30-year munis are near the highest since April 2011, Bloomberg data show. That compares with 3.92 percent for Treasuries with similar maturity.
The ratio of the two yields, a measure of relative value, is about 119 percent, higher than the five-year average of 112 percent.