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The Real Rate Index45.30.00Palanor: Inflation Pulse50.7+0.06Palanor: Geopolitical Stress59.7-0.25Palanor: Liquidity58.8+0.87Palanor: Capital Tightness46.4-1.11Palanor: Industrial Pulse70.10.00Palanor: AI Margin Compression52.8-0.63Palanor: Consumer Confidence47.1-1.44Palanor: US Dollar Strength46.5+0.01Palanor: Labor Heat63.20.00Palanor: Recession Vocabulary28.7+0.64Palanor: Uncertainty Index53.2-0.24Palanor: US Jobs Health40.30.00Palanor: Energy Transition37.7+0.74Palanor: Reshoring Sentiment22.7-0.15Palanor: AI Substitution28.6+0.24The Social Fabric Index45.70.00Palanor: Geopolitical Anxiety19.8+0.43Palanor: Quit Pressure34.7-2.85The Mania Index88.00.00The Palanor Index57.5+0.37Cost Disease Spread33.20.00Palanor: US vs China49.4-0.05Rise of Socialism Index40.6-0.18The Bubble Memory98.5-0.00Palanor: Steward Confidence51.0+0.19The Long Watch90.30.00The Reshoring Index55.20.00The Capital Return Index80.2-0.77The Discourse Index74.3+1.91The Hesitation Index33.4+2.64Palanor AI Inference Cost Index71.2-0.03The AI Capex Race Index76.1-2.39The Boardroom Index81.7-0.84The Layoff Cycle Index35.6+2.75Capital Deployment Posture Index61.7-0.67The Consumer Health Index41.8+0.07Labor Hours Composite44.40.00The Dollar Erosion Index65.5-1.13Palanor: Risk Appetite35.4-0.76
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Bars over time

Hyperscaler Bond Issuance

U.S. dollar bonds priced by Microsoft, Alphabet, Amazon, Meta and Oracle per month, $ billions

$0.0B in Sep 2026$0.0B since Sep 2016
YTD1y2y5y10y20yAll
ForecastOffContinuationForesight™
Current·Data to Sep 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

Continuation · the recent trend, flattening · 30 days

Faint bars: the projected periods. Whiskers: the range about two in three outcomes land in. A projection, not a promise.

Palanor calculation from the pricing term sheets companies file with the SEC. Deals sold under Rule 144A file none and are not included.

The biggest cloud and AI spenders now fund data centers in the bond market. Each bar is the month their deals priced, from their own SEC filings.

What this chart reads

Sources

Hyperscaler Bond Issuance per Month (SEC Term Sheets). Source: Palanor calculation from SEC EDGAR pricing term sheets (FWP, 424B2). Public domain.

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

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