美国公司债券630亿美元现在由于高债务和高支出而面临垃圾风险,高于2024年的370亿美元。 $63 billion in US corporate bonds now risk junk status due to high debt and spending, up from $37 billion in 2024.

JP摩根大通称,越来越多的美国公司债券——630亿美元,从2024年的370亿美元增加到2024年的370亿美元——面临被降级为垃圾的风险,其驱动因素是债务成本上升、人工智能和收购支出增加以及杠杆效应增加。 A growing number of US corporate bonds—$63 billion, up from $37 billion in 2024—are at risk of being downgraded to junk status, according to JPMorgan Chase, driven by rising debt costs, heavy AI and acquisition spending, and increasing leverage. 虽然信贷利差仍然很低,投资者需求强劲,但BBB评级债券在投资等级指数中所占的份额创历史新低,为7.7%,减少了对降级的缓冲作用。 While credit spreads remain low and investor demand strong, the share of BBB- rated bonds in investment-grade indexes has hit a record low of 7.7%, reducing the buffer against downgrades. 2025年,550亿美元的债券跌到垃圾堆里,超过100亿美元的升级——信贷质量急剧恶化。 In 2025, $55 billion in bonds fell to junk—far surpassing the $10 billion of upgrades—highlighting deteriorating credit quality. 一些投资者正在减少对高杠杆公司的风险,虽然预计不会立即发生危机,但高债务水平和公司支出的持续压力可能继续给2026年的市场带来压力。 Some investors are cutting exposure to highly leveraged firms, and while no immediate crisis is expected, ongoing pressure from high debt levels and corporate spending may continue to strain the market in 2026.