• Citi sees intensifying competition for capital between governments and corporations amid rising funding needs and higher-for-longer interest rates.
• Government infrastructure spending and corporate AI investment are increasing demand for a finite pool of capital.
• Elevated US dollar rates are pushing sovereign and corporate issuers toward local-currency funding to diversify liquidity sources and optimize borrowing costs.
• Emerging markets face pressure on public finances from elevated debt burdens and higher borrowing costs, increasing interest in debt-for-development transactions.
• The US dollar is expected to remain the dominant global reserve currency, supported by the depth and liquidity of US financial markets.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Citigroup Inc. published the original content used to generate this news brief on October 15, 2026, and is solely responsible for the information contained therein.