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Market brief: emerging markets shrug off higher rates with record borrowing spree. by AdvisorHub Digital September 24, 2026 Emerging markets shrug off higher rates with record borrowing spree. Emerging-market governments and companies are tapping international bond markets at a record pace despite higher global interest rates, a strong dollar and geopolitical uncertainty. Investor appetite for emerging-market debt has remained resilient as elevated yields attract buyers looking for income and diversification. The borrowing boom comes as developed-market government yields have also risen sharply, increasing competition for investor capital. Why It Matters: Strong demand suggests investors are still willing to move beyond U.S. and European bonds when they are adequately compensated for risk. For diversified portfolios, emerging-market debt can provide higher income, but currency moves, refinancing costs and geopolitical risks remain important considerations. Big bond managers favor quality as Treasury yields top 5%. Some of the world's largest bond managers are responding to this year's selloff by emphasizing shorter maturities and higher-quality securities rather than making aggressive bets on falling rates. Managers overseeing hundreds of billions of dollars say higher starting income is cushioning price declines and creating selective opportunities in investment-grade credit, asset-backed securities and mortgages. Why It Matters: Higher yields are making fixed income more attractive even as inflation, deficits and additional Fed tightening remain risks. For advisors, the message from major managers is increasingly to collect elevated income without taking unnecessary duration or credit risk. AI buildout becomes a $10 trillion bet on the U.S. Economy. Spending on data centers and related artificial-intelligence infrastructure is projected to reach $10.3 trillion between 2025 and 2032, according to estimates highlighted by The Wall Street Journal. That would average roughly 3.6% of U.S. GDP annually, exceeding the relative scale of previous infrastructure booms including railroads, highways and the internet buildout. The investment is supporting construction and economic growth but also increasing demand for power, equipment, labor and capital. Why It Matters: AI is becoming a macroeconomic force rather than simply a technology-sector investment theme. The scale of spending could support industrial, utility and infrastructure companies while also contributing to inflation and creating significant risk if expected returns on AI investment fail to materialize. Alternatives. BlackRock group nears $25 billion data-center deal. A consortium backed by BlackRock and IFM Investors has entered exclusive talks to acquire Stack Infrastructure's Asia-Pacific data-center portfolio from Blue Owl Capital. The assets could be valued at roughly $20 billion to $25 billion, according to Bloomberg. The consortium includes BlackRock's Artificial Intelligence Infrastructure Partnership and is preparing to conduct due diligence on the portfolio as institutional capital continues pouring into infrastructure needed to support AI computing. Why It Matters: A transaction approaching $25 billion would demonstrate how AI infrastructure is becoming one of the largest destinations for private capital. Data centers increasingly sit at the intersection of private equity, infrastructure, real estate and energy investing, giving alternative managers another large avenue for deploying institutional capital. Cryptocurrency. Bitcoin slides below $84,000 as Treasury yields surge. Bitcoin fell below $84,000 Thursday as the 10-year Treasury yield reached its highest level since 2007, putting renewed pressure on crypto and other nonyielding assets. Dogecoin fell about 7%, while XRP, Zcash and Hyperliquid dropped 5% to 6%. The selloff followed stronger U.S. business activity, a rebound in oil prices and weak demand for a $70 billion Treasury auction, all of which reinforced expectations that interest rates could remain higher. Why It Matters: Bitcoin's reaction underscores how closely crypto has become tied to traditional macro forces. With investors able to earn more than 5% on government debt, higher yields raise the opportunity cost of holding nonyielding assets and make leveraged crypto positions more expensive to finance. Advisors at third-party firms can join a wait list for now. Sep 23, 2026

BlackRock, IFM close in on $25 billion Stack data center deal, Bloomberg News reports. 24 Sep 2026 03:43PM (Updated: 24 Sep 2026 05:10PM) Add CNA as a trusted source to help Google better understand and surface our content in search results. Sept 24: A consortium backed by BlackRock and IFM Investors is in exclusive talks to buy Stack Infrastructure's Asia Pacific data center portfolio for up to $25 billion, Bloomberg News reported on Thursday, citing people familiar with the matter. Global investors have been pouring money into Asia's booming data center sector, driven by rising demand for cloud computing, AI and digital services. The investor group, which includes the BlackRock-backed Artificial Intelligence Infrastructure Partnership (AIP) and IFM, is preparing to conduct due diligence on the assets and hopes to reach an agreement soon with Stack's owner, Blue Owl Capital, the report said. Bloomberg reported in May that Stack was considering its options, including a sale of its Asia operations in a deal valued at more than $30 billion, and in June that IFM and AIP were among potential bidders. Denver-based Stack operates data centers across key Asia-Pacific markets including Tokyo, Osaka, Sydney and Melbourne, according to its website. Deliberations are ongoing, and talks could be prolonged or fail to result in a deal, the report added. Reuters could not immediately verify the report. BlackRock, IFM Investors, Stack Infrastructure and Artificial Intelligence Infrastructure Partnership did not immediately respond to a request for comment. AIP, launched in late 2024 with plans to initially invest more than $30 billion in AI-related projects, is among the world's largest investment vehicles focused on data centers and energy facilities needed to power AI applications. Nvidia, xAI, Microsoft, and investment firm MGX are also investors in the partnership.

BlackRock and IFM in exclusive talks for $25B data center deal. The asset management giant continues its aggressive push into AI infrastructure with yet another massive data center play an hour ago Sponsored: Vera - AI-powered prediction market intelligence, built for serious analysts Explore Vera BlackRock and IFM Investors are reportedly in exclusive talks to acquire a data center portfolio valued at $25 billion, adding another massive transaction to what has become a historic spending spree on AI infrastructure by the world's largest asset manager. BlackRock's data center empire keeps growing. In July 2026, BlackRock's Global Infrastructure Partners closed a $40 billion acquisition of Aligned Data Centers, a deal that handed the firm control of more than 51 campuses and over 6.4 gigawatts of capacity. That transaction alone included a $5 billion commitment earmarked for future growth. Days later, BlackRock announced an 80/20 joint venture with Meta to develop a $14 billion data center in El Paso, Texas. That facility is expected to deliver 1 gigawatt of capacity when it comes online around 2028. And then there's the roughly $27 billion joint venture BlackRock formed with Spain's ACS for broader data center development. AI, tech, and the markets they move - in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Why IFM makes sense as a partner. IFM Investors manages roughly A$230 billion in assets on behalf of pension funds, making it one of the largest institutional investors in the infrastructure space globally. The Melbourne-based firm has been building its own data center expertise, having acquired Swiss data center operator Green Group in July 2025. Large technology companies like Meta are increasingly seeking off-balance-sheet solutions for their massive AI capital expenditure programs. Rather than owning data centers outright, they prefer to lease capacity from financially sophisticated landlords who can absorb the upfront construction costs. Disclosure: This article was edited by Editorial Team. For more information on how Crypto Briefing create and review content, see its Editorial Policy.