Market Insights

“And if you think about that $800 billion [in hyperscaler capex], a portion of it will be funded by the cash flow of these companies. A few hundred billion will be funded by the public investment-grade markets. And our stance is private investment-grade capital will be the third leg of that funding stool. It’s going to take all the markets, it’s going to take the equity market, operating cash flow, the public market, and the private market for those kinds of numbers to come through.” Apollo Global Management president Jim Zelter (5/4/26 - Yahoo Finance).

“We certainly are beginning to see, for instance, what used to be called slicing and dicing and tranching of loan structures going on, and if you were involved before the financial crisis, then alarm bells start going off at that point.” BOE Governor Andrew Bailey (10/21/25)