According to CoinMeta, Goldman Sachs stated that the surge in high-yield debt issuance in the United States is suppressing investor demand, leading to junk bond spreads reaching their highest levels since April. The issuance volume in September reached $38.5 billion, while the spread on CCC bonds soared to its highest point since 2023. In addition, Goldman Sachs has tracked nearly $600 billion in AI-related debt supply this year and warned that there could be another acceleration in 2027.