SoftBank is set to issue $11 billion in junk bonds, some of which will be used to top up bets on OpenAI. These days, AI burn rates have already spread to the junk bond market—leverage is maxed out as they bet on the future.
On the macro level, a surge in high-yield debt supply will push up credit spreads. Once risk appetite retreats, the first thing to collapse will be this kind of high-beta narrative. BTC is just riding the Nasdaq’s gravy—don’t expect to stand apart from it.
$BTC $ETH #OpenAI #SoftBank
On the macro level, a surge in high-yield debt supply will push up credit spreads. Once risk appetite retreats, the first thing to collapse will be this kind of high-beta narrative. BTC is just riding the Nasdaq’s gravy—don’t expect to stand apart from it.
$BTC $ETH #OpenAI #SoftBank
