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Golden Ten Data, July 3rd – According to reports, Matt Brill, head of North American Investment Grade Credit at Invesco, criticized SpaceX (SPCX.O) for the "very chaotic" performance of its debut bond in the secondary market, describing it as "a very disappointing deal" and even referring to it as a "red card." The bond had an issue size of $25 billion but attracted nearly $90 billion in orders; however, its price quickly weakened after listing, surprising market traders. Brill pointed out that this could be due to biases in the underwriting price or insufficient participation from long-term investors (such as pensions and insurance funds). He also warned that investment-grade credit spreads are now at multi-year lows and that the credit market's "downside risk outweighs the upside potential," therefore he is reducing concentrated allocations to the tech sector. The market believes this volatility reflects a widening gap between high demand and the market's true absorption capacity.

At the same time, investors are closely watching political and trade developments in the region. The MSCI Latin America Currency Index inched up by 0.1%, while the region’s stock index rebounded 0.3% after falling for three consecutive trading days. The Colombian peso and Peruvian sol rose by 0.2% and 0.4%, respectively. Peru’s main stock index and the Colombian COLCAP index each gained 0.3%. The Brazilian real dipped slightly by 0.1%, while Brazil’s Bovespa stock index climbed 0.4%. Argentina’s Merval index rose 0.9%. Mexico’s main stock index fell by 0.3%, dragged down by a 3% plunge in Walmart de México (Walmex) shares; meanwhile, the Mexican peso strengthened by 0.4%.

Golden Ten Data reported on July 3 that the new Federal Reserve Chair, Kevin Walsh, spent his first week in office mainly attending internal meetings and communicating with staff, with only a few external engagements. These included a breakfast with Treasury Secretary Scott Besant, as well as meetings with former Federal Reserve Governor Steven Milan and Brookings Institution's Nellie Liang. In comparison, former Chair Jerome Powell had a much more intensive schedule at the end of his term, frequently meeting with global central bank officials and Wall Street executives, including Goldman Sachs CEO David Solomon and the Chairman of UBS. The Federal Reserve Chair’s schedule is currently published monthly on the official website.