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After the IPO, a massive bond issuance has "angered" the market; SpaceX bonds are approaching "junk status," and the speed of their decline has surprised traders.

After the IPO, a massive bond issuance has "angered" the market; SpaceX bonds are approaching "junk status," and the speed of their decline has surprised traders.

Following a record-breaking IPO, SpaceX’s massive $25 billion bond issuance has faced a fierce sell-off in the secondary market. The aggressive fundraising pace of the long-term loss-making rocket and AI company has quickly eroded investor confidence, causing its bond spreads to widen significantly and approach speculative—or “junk”—levels.