At a 5.2% ten year, $194 billion of issuance carries under $11 billion of annual coupon, trivial against hyperscaler cash flow, so the binding constraint is index concentration and duration supply, not affordability.
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At a 5.2% ten year, $194 billion of issuance carries under $11 billion of annual coupon, trivial against hyperscaler cash flow, so the binding constraint is index concentration and duration supply, not affordability.