[Apollo Chief Economist: Massive Bond Issuance by AI Companies May Crowd Out Demand for U.S. Treasuries] Odaily Planet Daily News – Apollo Chief Economist Torsten Slok issued a risk warning, stating that major AI companies are currently issuing large amounts of debt to fund industry expansion. The total estimated scale of related bond issuance has reached $700 billion, with the massive new supply diverting market funds and creating a noticeable crowding-out effect on U.S. Treasuries and other credit instruments. Torsten Slok noted that if the scale of debt financing for AI infrastructure continues to expand, the overall logic of capital allocation in the bond market will undergo restructuring, persistently suppressing demand for U.S. Treasuries while exerting medium- to long-term pressure on liquidity across the entire credit market.