DoubleLine credit chief sees value in big tech bonds after AI selloff

This signals that major asset managers view the AI-led selloff as a credit opportunity rather than a red flag, potentially cushioning further spread widening in top-tier tech debt. The focus on issuers like Alphabet and Amazon underscores a flight to quality within investment grade, where balance-sheet strength outweighs sector volatility. The key dynamic to watch is whether spreads reach the 'reasonable' thresholds Cohen implies, as that would test conviction across other institutional buyers. If such buyers step in only at wide levels, it could keep the market in a wait-and-see mode, with tech bond valuations hinging on continued volatility rather than fundamentals.