Long-term municipal bond issuance for 2012 continues to outpace that of the previous year, but the once-yawning gap year-over-year has narrowed.

Issuers floated just 7% more in total volume last month than they did in July 2011. That amounted to $26.6 billion in 836 issues in July 2012, against $24.9 billion in 757 deals over the same period last year.

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