Fixed Income Opportunities Beyond Treasuries and the Scale of AI-Era Financing

A fixed income strategist discusses how the bond market landscape is shifting, from demand for the ten-year Treasury to the wave of financing tied to AI infrastructure. The conversation covers where yield can be found across markets, the evolving role of the traditional 60/40 portfolio, and how investors are evaluating credit and equity risk amid large-scale capital raises.

■ Fixed Income and the Yield Curve
- Conditions around ten-year Treasury demand and the broader financing market
- Building yield by staying shorter on the curve and using spread assets
- The changing relevance of the 60/40 portfolio and demand for uncorrelated assets

■ Opportunities Across Global Markets
- Long rates in Japan, emerging markets including Brazil, and securitized assets
- Views on French and European credit, yuan-denominated debt, and Korea
- Securitized financing for technology, GPU, and data center projects

■ AI Financing and Market Outlook
- Activity in high-grade bond sales and large capital raises by major technology firms
- Cost of debt versus cost of equity and its implications for issuance
- Distinguishing AI companies by business model, revenue, and cash flow rather than by region

Those interested in bond market strategy, portfolio construction, or how AI-related capital raising is shaping credit and equity markets will find a compact overview of the themes and the reasoning behind them.