Tasos Vossos

An unprecedented number of U.S. companies sold bonds in Europe on Wednesday, drawn by liquidity and attractive terms as their home market strains under a deluge of AI-related debt.

UBS Group AG is buying back $7.9 billion of old Credit Suisse bonds, its biggest move yet to shrink the debt load it inherited when taking over its crosstown rival.

Bond traders are making an unusual judgment about risk in French financial markets: they believe collateralized bank bonds are safer than government debt.

Credit markets are showing signs of caution, as investors pull back from treating high-grade debt as a bastion of safety amid lingering worries about record borrowings and inflation.

The cost of insuring French banks’ bonds against default has jumped above that of other European lenders as concerns about France’s fiscal and political situation spill over into credit markets.

After decades of budget deficits and steadily rising debt, markets are putting a new price on French risk.

París enfrenta una factura creciente por su deuda justo cuando la política dificulta una solución. Los mercados se preparan para una volatilidad que podría prolongarse hasta las elecciones.

Nearly €215 billion ($241 billion) of France’s corporate bonds now trade as if they were safer than the government’s, an almost 18-fold increase since the start of 2026, after a punishing sovereign debt selloff.

When financing gets more expensive, companies usually slow down their bond sales. Tech companies have instead been ramping up this year, and talk this week of potential big financings from SpaceX and Broadcom Inc. only amplified investor fears about the wave of coming debt.

Investors in the riskiest instruments sold by US and European banks are starting to demand more compensation on new deals.