JPMorgan Lifts 2027 US Investment-Grade Bond Forecast to $2.1T, AI Data Centers Biggest Driver

JPMorgan strategists Nathaniel Rosenbaum and Eric Beinstein now expect $2.1T of US investment-grade bond issuance in 2027 — a record — with the AI buildout as the biggest driver. Tech and media account for $612B of net new supply: ~$225B from hyperscalers and another ~$225B for data-center and chip-related financing. JPMorgan also lifted its five-year data-center high-grade bond call from $1.5T to $2.1T.