SpaceX has drawn about $89 billion of demand for its debut US bond sale, according to people with knowledge of the matter, setting the stage for one of the biggest deals in the US investment-grade market this year.

Elon Musk’s rocket, satellite and AI conglomerate is seeking to raise between $20 billion and $25 billion from the five-tranche offering in a deal that’s expected to price on Tuesday. At the lower of that range, demand would exceed the bond size by more than four times. Debt investors, who tend to be more conservative than those in the equity market, are betting on Musk’s ability to deliver on his promises even as the company is projected to burn significant amounts of cash over the next few years.

For more, we speak with Robert Schiffman, Senior Tech Credit Analyst for Bloomberg Intelligence.
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Roubini Macro Associates Chairman and CEO Nouriel “Dr. Doom” Roubini says that the tech boom will have a greater economic impact than Fed policy.

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On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the latest news from the Trump Administration. On today’s show, American Petroleum Insitute President Mike Sommers, Stonecourt Capital Partner Rick Davis, Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and States Project Co-Founder Daniel Squadron.

Chapters:
00:00:00 – Balance of Power: Early Edition
00:01:33 – Strait of Hormuz, Energy Security & Rubio’s Middle East Trip
00:02:05 – Strategic Petroleum Reserve & U.S. Energy Policy
00:02:24 – Market Open: Tech Selloff, AI Concerns & Oracle Cuts
00:04:15 – Iran Sanctions Relief Debate & Frozen Assets
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00:23:00 – Political Roundtable: Iran Deal Implications
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SpaceX shares are looking to bounce back on Tuesday after a three-day selloff wiped off more than $600 billion from the Elon Musk-led rocket and satellite company’s market value. Shares are still up roughly 10% from its $135 initial public offering price. Pierre Ferragu of New Street Research says a cautious AI trade could be weighing on the stock. He speaks on “Bloomberg Surveillance.”
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Allies of Keir Starmer expect him to set out a timetable for his departure as UK prime minister, putting Britain on course for its seventh premier in a decade and paving the way for Andy Burnham to replace him. Starmer being on the brink of leaving office comes after the landslide election victory he secured in 2024, which returned Labour to power after 14 years out of office.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.

Chapters:
00:00:00 – The Opening Trade
00:00:39 – Market Check
00:02:39 – Starmer Resignation Timetable
00:06:51 – UK Gilts Check
00:08:01 – Brent Crude, Oil Falls
00:09:45 – Easyjet Rejects Castlelake’s Takeover Offer
00:17:31 – Markets Asses Possible Andrew Burnham Gov.
00:31:27 – Stocks Diverge After US-Iran Talks
00:39:29 – Bonds Under Pressure Despite Oil Relief: MLIV
00:43:50 – Danone Buys Australian Dairy Producer
00:47:31 – Stocks to Watch: UK Stocks, Easyjet, Danone
01:04:29 – Keir Starmer’s Future Speculation
01:16:04 – British Pound Price
01:29:55 – Starmer ‘Weighing Political Realities’
01:34:37 – FTSE 100 Check
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