The U.S. bond market is sending the clearest signal to corporate leaders that the era of cheap money is over and borrowing costs will rise. The U.S. national debt now exceeds $40 trillion, with Washington paying approximately $3.2 billion daily in interest on that debt. The Federal Reserve is highly likely to raise interest rates at its next meeting in September. AI companies including Alphabet, Amazon, Meta, Microsoft, and Oracle have issued approximately $500 billion in debt this year to fund their infrastructure.
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