SpaceX Reveals Pricing Details for What Could Be One of the Year’s Bigges...
SpaceX confirmed pricing for its inaugural public‑company bond offering, expanding the issue to $25 billion after overwhelming investor demand. The original target was $20 billion, but the upsized deal reflects strong market confidence in the firm’s growth trajectory. Proceeds will be used primarily to retire existing SpaceX debt, strengthening the company’s balance sheet. The transaction ranks among the largest AI‑linked bond issuances of the year, underscoring the convergence of aerospace and artificial‑intelligence financing.
Goldman Hints at Fed’s Next Interest-Rate Bet Under Warsh
Goldman Sachs notes the Federal Reserve will likely keep the policy rate unchanged at 3.50%‑3.75% through the rest of 2024, but a majority of FOMC members could support a hike if inflation remains sticky. The CME FedWatch tool shows roughly...
Foreign Portfolio Investors Pour ₹35,000 Crore Into Indian Bonds in June After Tax Exemption
Foreign portfolio investors (FPIs) poured roughly $4.2 billion (₹35,000 crore) into Indian government bonds in June after the government granted a tax exemption on interest and capital gains. The move boosted Fully Accessible Route (FAR) holdings to about $43 billion (₹3.58 lakh crore), up from...
Benchmarks Are Broken: Why Antiquated Methodologies Fail Fixed Income
Traditional fixed‑income benchmarks weight issuers by total debt, rewarding the most leveraged companies regardless of credit quality. This market‑cap‑style approach inflates exposure to default risk, especially as interest rates stay elevated. TMX VettaFi is challenging the status quo by developing...
Morningstar DBRS Assigns Provisional Credit Ratings to EFMT 2026-NQM7
Morningstar DBRS has issued provisional credit ratings for EFMT 2026‑NQM7 mortgage pass‑through certificates, assigning (P) AAA ratings to eight senior tranches totaling $618 million and lower ratings to the remaining classes. The securitization backs $464.4 million of 1,129 fixed‑ and adjustable‑rate residential mortgages,...
High Yield Continues to Drift Toward Higher Quality
High-yield bonds have shifted toward higher credit quality, with BB‑rated issuers now comprising over half of the market as lower‑rated companies migrate to private credit and leveraged loans. The structural change is reinforced by strong first‑quarter earnings, driven by technology,...