Alphabet’s Record $3.6B Yen Bond Funds Its AI Capex Spree
Alphabet sold ¥576.5B ($3.6B) of yen bonds on May 15, 2026 — the biggest foreign issue ever, beating Berkshire’s 2019 record. Why Tokyo, why now.
Capital Markets
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EQT’s $3.8B Bid for Kakaku.com Sparks Japan PE Bidding War
Sweden’s EQT launched a $3.76B tender offer for Kakaku.com, the parent of Tabelog. Hours later, Bain Capital and LY Corp filed a competing joint bid.
JPMorgan Files to Launch Tokenized Money Market Fund on Ethereum
JPMorgan’s Kinexys unit has filed with the SEC to register JLTXX, a tokenized U.S. Treasury money market fund on Ethereum, entering a $15.8 billion market.
Verizon Issues $4B in Dollar Hybrid Bonds for the First Time
Verizon priced $4B in its first-ever USD hybrid bonds, completing a $12B global program alongside tender offers on 31 series of legacy debt.
Rolls-Royce Lines Up Euro Bond as NATO Defense Spending Hits $574B
Rolls-Royce is arranging a rare Euro bond to build cash reserves as NATO defense spending surges 20% to a record $574 billion — here’s what’s driving the capital raise.
Bullish Buys Equiniti for $4.2B to Tokenize Shareholder Services
Bullish agreed to acquire Equiniti for $4.2B, combining a crypto exchange with a transfer agent serving 3,000 issuers and $500B in annual payments.
IG Credit Spreads Near 3-Year Lows as Corporate Borrowers Rush In
Investment-grade credit spreads compressed to 79 basis points in May 2026, near their tightest in over three years, as companies race to lock in cheap borrowing costs.
Anthropic Could Raise $50 Billion at Near-$1 Trillion Value
Sources say Anthropic is fielding preemptive offers for a $40-50B round at $850-900B, backed by Google’s $40B pledge and Amazon’s $13B commitment, with one $5B buyer unable to get a meeting.
Fed’s 8-4 Split Forces Bond Traders to Hedge Both Ways
The April 29 FOMC meeting ended in an 8-4 split — the Fed’s most divided vote in years, with dissenters on both sides. Here’s what it means for Treasury yields.
Blackstone’s $10B Credit Fund: How Private Lending Hit $520B
Blackstone’s Capital Opportunities Fund V closed oversubscribed at $10B. Private credit now rivals the entire high-yield bond market—here’s who’s winning and what risks regulators see.