Look at the below menu of investment grade bond categories, which bond category appears to be too expensive (i.e. priced wrong)?

a. 30-year agency debt

b. 20-year corporate (AA-rated)

c. 5-year treasury bond

d. 3-year municipal bonds (Aa-rated)

1yr 3mo 6mo 9mo 0.50% 0.85% 1.00% 2yr 3yr 1.35% 2.10% 2.15% CDs (New Issues) BONDS 0.65% 1.00% 1.33% 1.67% 2.35% 2.19% 2.10% 1.44% 2.25% -- 0.98% 1.32% 1.62% 2.21% 1.97% 2.51% 2.48% -- 1.06% 1.50% 1.61% 1.72% 1.66% 2.43% U.S. Treasury U.S. Treasury Zeros Agency/GSE Corporate (Aaa/AAA) Corporate (Aa/AA) Corporate (A/A) Corporate (Baa/BBB) Municipal (Aaa/AAA) Municipal (Aa/AA) Municipal (A/A) Taxable Municipal* 0.93% 1.02% 0.98% 2.08% 2.77% 3.43% 2.14% 2.15% 2.40% 3.00% 4.01% 1.46% 1.90% 2.85% 4.38% 1.69% 1.89% 2.19% 0.80% 1.13% 1.15% 1.20% 1.31% 1.33% 1.52% 1.49% 1.45% 1.71% 1.70% 2.08% 2.04% 2.26% 2.32% 1.12% 1.20% 1.40% 1.83% 2.52% 2.83% 1yr 3mo 6mo 9mo 0.50% 0.85% 1.00% 2yr 3yr 1.35% 2.10% 2.15% CDs (New Issues) BONDS 0.65% 1.00% 1.33% 1.67% 2.35% 2.19% 2.10% 1.44% 2.25% -- 0.98% 1.32% 1.62% 2.21% 1.97% 2.51% 2.48% -- 1.06% 1.50% 1.61% 1.72% 1.66% 2.43% U.S. Treasury U.S. Treasury Zeros Agency/GSE Corporate (Aaa/AAA) Corporate (Aa/AA) Corporate (A/A) Corporate (Baa/BBB) Municipal (Aaa/AAA) Municipal (Aa/AA) Municipal (A/A) Taxable Municipal* 0.93% 1.02% 0.98% 2.08% 2.77% 3.43% 2.14% 2.15% 2.40% 3.00% 4.01% 1.46% 1.90% 2.85% 4.38% 1.69% 1.89% 2.19% 0.80% 1.13% 1.15% 1.20% 1.31% 1.33% 1.52% 1.49% 1.45% 1.71% 1.70% 2.08% 2.04% 2.26% 2.32% 1.12% 1.20% 1.40% 1.83% 2.52% 2.83%