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SpaceX Rout Continues as Tech Selloff Hits Stocks | The Pulse 6/23/2026

Watch on YouTube ↗  |  June 23, 2026 at 10:38  |  48:31  |  Bloomberg Markets
Speakers
Ludovic Subran — Allianz CIO & Chief Economist
Charles — European Equity Capital Markets Editor, Bloomberg
Sam Fazeli — Senior Pharmaceutical Analyst, Bloomberg Intelligence
Parmy Olson — Bloomberg Opinion Columnist / Author of "Supremacy"
Charlie Wells — Bloomberg Reporter
Zoe Schneeweiss — Economic Coverage Reporter, Bloomberg

Summary

SpaceX shares plummet amid a tech selloff, shedding hundreds of billions in market value as the company issues debt. Guests discuss AI's sustainability, the UK political transition with Andy Burnham set to become PM, and Eurozone economic data. Investment views include bullish UK bonds, caution on credit, interest in defense IPO KNDS, and long-term growth for Eli Lilly's GLP-1 drugs.

  • SpaceX stock drops 16% in one day, down 60% over three sessions, after seeking $20 billion in debt.
  • Tech selloff drags Nasdaq 100 futures lower; South Korea's Kospi plunges 10% from a record high.
  • Allianz CIO sees mispricing in credit markets and expects UK 10-year yields to fall.
  • Andy Burnham appears set to become the UK's next prime minister, with focus on the economy and potential fiscal rule changes.
  • KNDS, a pan-European defense company backed by France and Germany, is expected to IPO soon.
  • Bloomberg Intelligence analyst bullish on Eli Lilly's GLP-1 obesity drugs, citing massive long-term market potential.
  • Eurozone PMI beats expectations, easing recession fears; ECB rate hike more likely in September.
Ideas
Ludovic Subran Allianz CIO & Chief Economist 12:42
Credit spreads tight, risk mispriced
Credit spreads are extremely tight, public and private credit risk is mispriced due to lack of transparency in private markets, creating a significant risk of repricing.
US corporate bonds MED
Ludovic Subran Allianz CIO & Chief Economist 13:33
UK bond yields to fall as premium fades
UK 10-year government bond yields include an insurance premium due to political uncertainty; this premium should fade as the new government settles, causing yields to decline over the next year.
UK 10-year government bonds MED
Charles European Equity Capital Markets Editor, Bloomberg 40:28
KNDS IPO offers discounted defense exposure
KNDS, a pan-European defense company backed by French and German governments, is expected to IPO at a discounted valuation relative to peers, offering an opportunity to invest in the European rearmament theme.
KNDS MED
Sam Fazeli Senior Pharmaceutical Analyst, Bloomberg Intelligence 46:38
GLP-1 drugs offer vast long-term growth
Eli Lilly's GLP-1 drugs have blockbuster potential beyond obesity, with emerging evidence of cardiovascular, cancer, and neurological benefits, supporting a massive total addressable market that could turn the drug into a long-term maintenance therapy similar to aspirin.
LLY HIGH
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This Bloomberg Markets video, published June 23, 2026, features Ludovic Subran, Charles, Sam Fazeli discussing US corporate bonds, UK 10-year government bonds, KNDS, LLY. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ludovic Subran, Charles, Sam Fazeli  · Tickers: US corporate bonds, UK 10-year government bonds, KNDS, LLY