​🚨 [BREAKING] Oracle’s long bonds got dumped after hours. Yields printed a record 8.3%.
Five-year CDS jumped 16% to 227 basis points — also a record, more than 4x the investment-grade index near 55.
The $18 billion in loans behind Project Jupiter are trading at 90 cents on the dollar.
Oracle is already one notch above junk.
One more cut and as much as $120 billion of its paper gets kicked out of IG indexes on autopilot.
The cloud print was fine.
The bond market just read the interest bill.
Bitcoin will not wait for a bankruptcy filing.
If AI credit knocks the Nasdaq over, the asset that pays no interest adjusts first.
BTC 81.2k. Fail that, 75k.