Risk Asset Pulse (@risk_asset_pulse)
SpaceX bond yields are flashing risk
SpaceX bond yields rose to almost 6 percent on Friday.
That puts $SPCX bonds closer to levels often associated with junk-rated borrowers than clean investment-grade credit.
Equity volatility gets the headlines, but credit markets often tell the cleaner story.
If bond investors start demanding more yield, the market is no longer treating SpaceX like a risk-free growth machine.