AI Issuance Freeze
−1.0%
The most likely path is that the AI high-yield market remains effectively shut for weaker data-center borrowers as investors demand yields that make projects uneconomic. Deals are postponed, moved into private credit, or resized, while spreads stay elevated after the move to 425 basis points.
What it moves
- Technology−1.6%
- Industrials−0.5%
- Riskier companies' borrowing costs
- Market volatility
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