Traders betting on higher prices took the brunt of forced selling as interest rates spiked upwards on Wednesday.
Space X · is in talks to raise $40 billion in debt to fund the purchase of Nvidia chips, according to the FT.
The capital would be split between bank loans and investment-grade paper, the story continued, noting that the huge sum underscored the massive amounts required to finance the infrastructure supporting the AI boom.
The EU debt crisis, part two, is back in play on Wednesday as the French 10-year OAT yield soars by 17.6 basis points to 4.924%, while the German 10-year Bund yield rises by a modest 3 basis points to 3.51%.
That puts the OAT/Bund spread — otherwise known as “le spread” — back to more than 141 basis points, a level not seen since the 2011 troubles.
Again, that first crisis affected the periphery of the EMU —the PIGS: Portugal, Italy, Greece, and Spain. This time around, it’s far more troublesome as the target of the bond selloff is a country firmly in the core of the monetary zone.
The euro is lower by 0.7% versus the greenback on Wednesday, trading at its weakest level in five months at $1.1183.
BitMine Immersion Technologies will stop buying ether once it has accumulated 5% of the cryptocurrency’s supply, Chairman Tom Lee said during a keynote at Token2049 in Singapore on Wednesday.
“That’s a hard cap. We’re not gonna be accumulating past 5%,” Lee said .
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