AI hyperscalers (Google, Amazon, Meta, Microsoft, and
Oracle) have issued 47% more debt in the first 5 months of
this year ($159 billion) than all of last year ($108
billion). Their YTD debt issuance exceeds the combined
issuance from 2020-2024
00:01 - 11/06/26
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Upside surprises in macro data have been helping to pull the
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