Saudi Arabia has been on quite a fundraising spree. Since January kicked off, the kingdom has already floated over $20 billion in international bonds—marking the strongest start to a year on record. What's interesting here is it's not just government funds doing the heavy lifting anymore. Companies and banks are actively jumping into the bond market alongside the official issuance push. This kind of capital activity at scale typically signals how appetite for risk assets is shaping up globally. When governments and corporations are simultaneously tapping debt markets this aggressively early in the year, it tells you something about market confidence and liquidity conditions. Worth keeping an eye on how this trend develops, especially as it reflects broader capital flows in traditional finance that often have spillover effects on digital asset markets.