SpaceX bond sale signals markets are in ‘bubble territory’, warns Allianz CIO
• Allianz CIO Ludovic Subran has warned that SpaceX's move into the bond market signals that private equity valuations may have entered "bubble territory." • Subran notes that debt investors will apply much stricter scrutiny to Elon Musk's rocket company than equity investors, who often overlook risks in high-growth private firms. • This shift is significant because it tests whether SpaceX's ambitious growth projections can be supported by actual cash flows and sustainable debt repayment.
ft.com