Competition for capital is back

What if the real opportunity in fixed income isn't just higher yields, it's who holds the leverage?Anne Greenwood, Institutional Portfolio Manager on the BlueBay U.S. Fixed Income team, breaks down why growing global demand for capital is shifting power toward bondholders.Governments, companies, and AI infrastructure are all competing for the same capitalWhen financing needs outpace investor appetite, borrowers offer greater compensation to attract itA wide spread alone doesn't make a bond a good investment—disciplined credit selection mattersAnne explains why selectivity on issuer, structure, and price matters more than ever when competition for capital is growing.