美银Hartnett建议买入科技债，称相对回报跌至30年低位
Bank of America’s Hartnett says buy tech bonds as relative returns hit 30-year low
BofA Chief Investment Strategist Michael Hartnett recommends buying US tech debt, saying such bonds fell about 9% in 2026, with total returns relative to the investment-grade index at a 30-year low. He sees the main reason as a surge in supply, with hyperscalers issuing $182 billion of debt for data centers this year versus $17 billion in 2024, and yields on long-duration tech debt rising to 6% to 8%.
BofA notes that tech debt's total returns relative to the investment-grade index have fallen to a 30-year low, with the core driver being hyperscalers' heavy debt issuance for data centers and the resulting supply surge; yields on long-duration tech debt have risen to the 6% to 8% range. For traders, this signals that supply pressure in the credit market is reshaping relative value, and the divergence between tech debt and the investment-grade index is worth tracking; meanwhile, pricing changes in high-yield long-duration assets may also indirectly affect gold and forex market sentiment through the risk-appetite channel.
美银策略师给出科技债相对投资级回报创30年低位的判断，并列出超大规模厂商发债与回购萎缩的对比数据。
来源：ForexLive · investinglive.com