BNP Paribas predicts that the prolonged upswing in corporate bond markets is nearing its end as major tech firms, known as hyperscalers, prepare to flood the market with approximately $400 billion in bond sales next year. This surge contributes to a record $3.7 trillion in net fixed income supply. The European Central Bank has observed a similar pattern, noting that US tech companies now represent nearly 10% of new euro-denominated bond issuances.
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