The "black hole" of AI infrastructure bonds is, posing a "capital scarcity" challenge to the prosperity of the global economy and stock markets.

Zhitong Finance APP has learned that as artificial intelligence companies and governments around the world increase bond issuance, the inflation-adjusted borrowing cost indicators in major economies have soared to their highest levels in over a decade, exacerbating risks for the stock market and the global economy. The real yield refers to the return that bond investors require above the inflation rate and is an important indicator of the true borrowing costs for governments and corporations. The real yield typically depends on expectations for economic growth, interest rates, and the supply and demand for money.