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California tech boom drives muni-bond rally

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Bond investors are betting that a resurgent technology-fuelled boom in the Golden State is not just California dreaming.

San Francisco

BOND investors are betting that a resurgent technology-fuelled boom in the Golden State is not just California dreaming.

The state, which faced ballooning budget shortfalls after the housing crash, is selling about US$961 million in general-obligation bonds this week

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