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BlackRock Bond CIO: AI high-quality bonds are more attractive than U.S. Treasuries

According to a report by the Korean News Agency, Rick Reed, Chief Investment Officer of Global Bonds at BlackRock, stated that the scale of debt financing for the recent expansion of artificial intelligence infrastructure is unprecedented, and the related bonds are more attractive than U.S. long-term government bonds. In an interview with Bloomberg Television, he mentioned that the scale of financing in the bond and stock markets is unprecedented, and this is the most attractive investment period he has ever experienced.Rick Reed focuses on high-quality bonds issued for financing GPUs, data centers, and other AI infrastructure, noting that the scale of newly issued corporate bonds is enormous, making interest rate conditions better than before. Although the yield on U.S. 10-year government bonds exceeds 5%, it has been marginalized by other market products, with government bonds being viewed more as a benchmark for measuring the stock market. Investors can purchase short-term single A-rated bonds to obtain an interest rate of about 7%, avoiding the duration risk of long-term government bonds.He also prefers secured bonds issued by high-quality companies or assets that can generate cash flow, believing that the valuations of stocks in the semiconductor and computing sectors are at reasonable levels. Reports indicate that hyperscale data center operators are issuing the largest corporate bonds in history, raising hundreds of billions of dollars, absorbing funds that would have flowed into government bonds, and becoming one of the main reasons for pushing up U.S. government bond yields. The scale of high-quality financing related to AI globally has exceeded $300 billion this year, about three times that of the entire last year.

first_img Kuaishou launched an independent entry point "Interactive Content World"

According to "Du Jia," the Kuaishou App has officially launched an independent platform and entry called "Kuaishou Interactive Content World." Most of the light interactive works on the platform are produced using Vibe Coding, allowing creators to describe their ideas in natural language, with AI generating code and quickly iterating demos, enabling the creation of interactive narratives and simulation mini-games that can be launched without mastering complex programming."Du Jia" states that this entry is separate from the conventional short video information flow and serves as an independent container specifically for interactive content. The homepage displays works in a card format, divided into popular and latest sections, with examples including the AI interactive narrative "Odyssey: Choices," as well as short gameplay like Marble Challenge and Gravity Slingshot. For instance, in "The Fisherman Never Goes Empty," users can complete actions such as casting a line, waiting for a bite, and reeling in, while utilizing features like the side mall, encyclopedia, and achievements.The report mentions that personal pages will retain access records, with each interactive content labeled with the creator ID and browsing data. Douyin's interactive space and interest cards, Bilibili's Toy, Xiaohongshu's RED Skill, and Hongguo's short drama parallel world have previously entered the market. Kuaishou has adopted an independent homepage and personal center loop, with the article noting that the platform is still in its early stages, with a relatively small content pool and fewer categories.
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