On September 9, the European bond market saw a record number of US corporate issuers in a single day, including Amazon's planned debut of a sterling-denominated bond, Uber's first foray into the euro market, and four other companies. With the US domestic bond market squeezed by heavy borrowing from companies engaged in the AI race, US firms are seeking alternative financing channels, with the euro market emerging as the top choice. However, investors warn that if Europe absorbs more debt from mega-sized corporations, its valuation appeal may diminish.
