The tweet was deleted by the author.
But we saved everything 🙂.
Sonali Basak reports that PIMCO has observed a widening in hyperscaler spreads over Treasuries. Additionally, these spreads have increased compared to other investment grade companies. While hyperscaler spreads were about 15% cheaper in early 2025, they are now 25% more expensive, which indicates the market is pricing in more risk.
Earlier, Sonali Basak reported that private credit managers see banks losing money in conventional credit markets. She also covered a panel session on volatility in software stocks and investor search for value. These developments add to recent observations of shifting risk in credit and technology sectors.