SpaceX (SPCX.US) massive new debt under pressure, spreads widen with a book loss of over $3 billion.

According to the financial news app Zhitong, the performance of SpaceX's record-breaking bond issue in the secondary market is rapidly deteriorating. Traders say that there has been almost no trade in recent memory where spreads have widened so quickly after listing. According to sources, a large market maker is quoting SpaceX's bonds due in 2056 at a spread of about 28 basis points wider than the "US Treasury yield + 175 basis points" level set at issuance (approximately 203 basis points).