Basket median
115bps
AI-BOND-INDEX / capex credit monitor
SNAPSHOT 2026-11-06 · FINRA TRACE · 240 BONDS · Δ vs PRIOR
The market is still paying AI-capex borrowers — but the gap is 128 bps
Infra ↔ hyperscaler gap
128bps
Widest name
ORCL 297
Tightest name
MSFT 73
Per-issuer spread ladder
| Issuer | Median spread | Δ | Term structure | Bonds | Bucket |
|---|---|---|---|---|---|
| Oracle ORCL | 297 bps | +8 | 57 | AI-infra | |
| Meta META | 139 bps | +14 | 30 | Hyperscaler | |
| Broadcom AVGO | 129 bps | +8 | 35 | AI-infra | |
| Nvidia NVDA | 95 bps | +7 | 13 | AI-infra | |
| Amazon AMZN | 90 bps | +6 | 42 | Hyperscaler | |
| Alphabet GOOGL | 81 bps | +2 | 30 | Hyperscaler | |
| Microsoft MSFT | 73 bps | +2 | 33 | Hyperscaler |
30-day benchmark spreads
Source: FINRA public TRACE · Treasury-interpolated spreads
Weekday 19:30 ET refresh