Mainstream reporting on bond-market vulnerabilities, including references to Jamie Dimon's cockroach analogy, centers on visible defaults while understating structural opacity in AI-related lending and leveraged exposures. Primary Federal Reserve Financial Stability Reports document rising concentrations in private credit and non-bank intermediation, patterns that echo earlier episodes of hidden leverage before 2008. A Bank for International Settlements working paper on credit intermediation further highlights how synthetic exposures can transmit stress across borders without triggering standard disclosure thresholds. Regulatory perspectives from the SEC emphasize enhanced reporting for private funds, yet implementation lags leave gaps in real-time visibility. Geopolitical policy developments, such as export controls on advanced technologies, introduce additional variables that could accelerate stress in AI-financed segments by disrupting cash flows. Multiple official assessments converge on the need for forward-looking stress testing that incorporates both domestic leverage metrics and cross-border policy spillovers rather than relying solely on interest-rate trajectories.