A new wave of analysis argues that AI data centers, not just deficits or oil, are driving long-term bond yields to two-decade highs. The theory links electricity demand, grid investment and government borrowing into one story.
Anthropic is reportedly preparing an IPO that could value the AI lab at up to $2 trillion, the largest listing in US history. A surging bond market and a frozen autumn IPO window stand in its way.
Rising long-term US bond yields have overtaken AI-bubble worries as investors' top concern, a Bank of America survey found. As ten-year Treasury yields top 5%, some global funds are ending their long-standing underweight positions in Chinese equities.
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