2026 Credit Outlook: Growing Divergence Amid AI's Big Build-Out
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AllianceBernstein (AB)4.95K FollowersFollow5ShareSavePlay(9min)CommentsSummaryThe credit markets begin 2026 on solid ground, buoyed by resilient corporate fundamentals, elevated yields and relatively low default rates.AI’s golden age has yet to arrive, but the expansion phase has already begun, with myriad implications for fixed-income investors.We see 2026 as a divergence year marked by softening corporate fundamentals and higher dispersion, which could be amplified by AI.Hyperscalers are creating what appears to be a durable supply pipeline, but it’s too early to deem AI a smashing success or a bubble about to burst. alexsl/iStock via Getty Images By William Smith | Timothy Kurpis, CFA | Robert Hopper The credit markets could see increased dispersion in 2026—amplified by AI’s infrastructure build-out. The credit markets begin 2026 on solid ground, buoyed by resilient corporate fundamentals, elevatedThis article was written byAllianceBernstein (AB)4.95K FollowersFollowAB is a research-driven investment firm that combines investment insight and innovative thinking to deliver results for our clients. At AB we believe that research excellence is the key to better outcomes and as a result we have built a global firm with exceptional research capabilities. We offer a broad array of investment services that span geographies and asset classes to meet the needs of private clients, mutual fund investors and institutional clients around the world.