SAN FRANCISCO — California’s general obligation bond yields have tightened against top-rated municipal debt since the November election, partly amid investor speculation that the state’s credit rating may be raised.

The yield spread between the state’s GOs and the benchmark Municipal Market Data’s triple-A bond index as of Monday had shrunk by 22 basis points for 30-year bonds, 15 basis points for 10-year bonds and two basis points for five-year bonds since the day before the Nov. 6 election, according to Thomson Reuters data.

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