[Pinhao said that "too much AI financing too fast" is pushing up bond yields] On August 28, Pimco said that the surge in debt financing for AI capital expenditures has made it "difficult to digest" in the fixed income market and pushed up yields, but this dynamic should bring investors considerable long-term returns. “There are too many AI-related issuances, too fast,” said Marc Seidner, chief investment officer of non-traditional strategies at Pimco. He added that this was "most likely" in the crowding-out effect that helped push the 10-year Treasury yield to about 4.75% earlier this month, the high end of a multi-year range. Big U.S. technology companies including Amazon and Alphabet have issued hundreds of billions of dollars in bonds this year, putting their debt in competition with government financing as they struggle to repair their fiscal conditions.