UBS RAISES BIG TECH BOND OUTLOOK, CUTS LOAN FORECAST UBS lifted its 2026 forecast for U.S. investment-grade tech bond issuance to $360 billion, up from $300 billion, citing surging AI-driven capital spending by megacaps including Meta Platforms, Amazon and Alphabet. That pushes UBS’s total U.S. investment-grade issuance forecast to $1.8 trillion, with tech accounting for about 20%. The bank expects hyperscaler capex to reach $770 billion in 2026, about 23% above prior estimates, potentially lifting their public debt issuance to as much as $240 billion. Alphabet recently raised $31.5 billion globally, including sterling and Swiss franc bonds. In contrast, UBS cut its U.S. leveraged loan forecast to $360 billion from $450 billion, warning AI-related disruption could widen spreads and curb refinancing activity.(*Walter Bloomberg)