Musk On Verge of Trillionaire Status With SpaceX IPO | The Opening Trade 6/12/2026

Summary

This episode covers SpaceX’s historic $75 billion IPO, the largest ever, with expectations of a 20-35% first-day pop. Optimism around a potential Iran nuclear deal sends oil below $90, lifting equities and travel stocks. ECB signals possible July rate hike, while the Fed is expected to start hiking in December. A survey of views includes bullish calls on US and Asian equities over Europe, short positions in front-end US and European bonds, and a limited-downside view on crude oil. Additional segments touch on Switzerland’s population-cap vote and the G7 summit.

• SpaceX IPO at a $0.8 trillion valuation, 100x trailing sales, expected to pop 20-35% on first day.
• Trump claims Iran deal is close, oil drops sharply, Brent falls below $90, stocks and travel shares rally.
• ECB’s Schnabel hints at a July rate hike, risks skewed to more than two hikes; ECB outlook driven by broadening inflation.
• BNP Paribas strategist sees front-end US and Eurozone yields rising, expecting three Fed hikes and ECB over-delivering.
• HSBC strategist Max Kettner is maximum bullish on equities, favoring US and Asia (Japan, Taiwan, Korea) over Europe.
• Bloomberg’s Paul Dobson argues Brent crude downside is limited as normalization of supply will be slow.
• Swiss population-cap vote could dampen long-term growth; G7 leaders meet amid trade and geopolitical tensions.