Global Bond Issuance Hits Record $6.61 Trillion on AI Financing Boom

The striking detail is composition, not the headline total: data-center and cloud borrowers account for roughly a third of the year's increase in issuance, which shifts a meaningful slice of the credit market's marginal supply toward a single capital-intensive theme. That concentration matters for credit spreads and for how the bond market prices long-duration AI infrastructure risk, and it links the AI trade directly to the broader rates complex rather than leaving it in equities. Whether that issuance share keeps climbing into next year, and how much of it lands in junk rather than investment grade, is the open question worth tracking.