Source

AI-issuance-surge data points (feed the standing #242 "2026 IPO-issuance-broadening monitor" in thread 2026-06-02-ai-mega-ipo-fast-entry-liquidity-regime):

• (06-01) AI-related cos issued ~$140B IG bonds YTD = 49% of all IG issuance; attracted ~$220B VC YTD = 87% of total.
• (05-31) Tech = record 8.3% of US high-yield / 10.3% of US IG bond market.
• (05-27) Big-Tech CDS net notional +$1.0B in Q2 to record $12.5B (Street hedging AI debt).
• (06-05) Meta weighing a "tens of billions" equity raise, after Google's $85B raise — "will big tech flood the market with equity to fund AI?" → equity-issuance broadening.

Takeaway

From a 30-day @KobeissiLetter pull. Status: social-source claims — figures reported by Kobeissi, not independently verified; cite primary (SIFMA / PitchBook) before any artifact use.

Why it matters: #242's regime-top gate upgrades yellow→red only if issuance broadens beyond the giga-trio (Baker-Wurgler). Bond+VC concentration (49%/87%) plus mega-cap equity raises are exactly that broadening tell. Monitor input, not a call change.