Basket median
92bps
AI-BOND-INDEX / capex credit monitor
SNAPSHOT 2026-09-07 · FINRA TRACE · 219 BONDS · Δ vs PRIOR
The market is still paying AI-capex borrowers — but the gap is 49 bps
Infra ↔ hyperscaler gap
49bps
Widest name
ORCL 210
Tightest name
MSFT 65
Per-issuer spread ladder
| Issuer | Median spread | Δ | Term structure | Bonds | Bucket |
|---|---|---|---|---|---|
| Oracle ORCL | 210 bps | 0 | 52 | AI-infra | |
| Meta META | 109 bps | 0 | 25 | Hyperscaler | |
| Broadcom AVGO | 94 bps | 0 | 32 | AI-infra | |
| Amazon AMZN | 80 bps | 0 | 42 | Hyperscaler | |
| Alphabet GOOGL | 76 bps | 0 | 30 | Hyperscaler | |
| Nvidia NVDA | 74 bps | 0 | 13 | AI-infra | |
| Microsoft MSFT | 65 bps | 0 | 25 | Hyperscaler |
30-day benchmark spreads
Source: FINRA public TRACE · Treasury-interpolated spreads
Weekday 19:30 ET refresh