{"id":63619,"date":"2026-06-23T12:38:18","date_gmt":"2026-06-23T16:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-bond-demand-hits-89b-as-u-s-manufacturing-jobs-slump\/63619\/"},"modified":"2026-06-23T12:38:18","modified_gmt":"2026-06-23T16:38:18","slug":"spacex-bond-demand-hits-89b-as-u-s-manufacturing-jobs-slump","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-bond-demand-hits-89b-as-u-s-manufacturing-jobs-slump\/63619\/","title":{"rendered":"SpaceX Bond Demand Hits $89B as U.S. Manufacturing Jobs Slump"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) attracted a massive $89 billion in investor demand<\/strong> for its debut investment-grade bond offering, nearly 4.5 times the targeted <strong>$20 billion<\/strong> raise.<\/li>\n<li><strong>U.S. manufacturing employment fell at its fastest pace since May 2020<\/strong>, with the S&amp;P Global Flash PMI employment gauge dropping to <strong>47.0<\/strong> amid rising costs and geopolitical uncertainty.<\/li>\n<li><strong>Shopify (<a href=\"\/stock\/SHOP\">SHOP<\/a>) is set to ban all vape sales<\/strong> on its platform this week following pressure from U.S. state attorneys general to curb the <strong>$9 billion<\/strong> illegal e-cigarette market.<\/li>\n<li><strong>U.S. Secretary of State Marco Rubio<\/strong> declared that international law prohibits Iran from charging tolls in the <strong>Strait of Hormuz<\/strong>, as technical teams work to finalize a &quot;war-ending&quot; deal.<\/li>\n<li><strong>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> will implement strict new verification rules for financial services advertisers across <strong>24 European Economic Area (EEA) markets<\/strong> starting July 23.<\/li>\n<\/ul>\n<h2>SpaceX Debt Debut Sees Record-Breaking Interest<\/h2>\n<p>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) has signaled exceptionally strong investor appetite for its debt, attracting approximately <strong>$89 billion<\/strong> in demand for its first-ever U.S. bond offering. The company is reportedly seeking to raise at least <strong>$20 billion<\/strong> to refinance bridge loans used for its acquisition of <strong>xAI<\/strong> and to fund capital-intensive projects like <strong>Starship<\/strong> and <strong>Starlink<\/strong>.<\/p>\n<p>The bond sale follows a historic <strong>$75 billion<\/strong> initial public offering (IPO) earlier this month that valued the aerospace giant at <strong>$1.77 trillion<\/strong>. Major financial institutions, including JPMorgan Chase (<a href=\"\/stock\/JPM\">JPM<\/a>) and Goldman Sachs (<a href=\"\/stock\/GS\">GS<\/a>), are arranging the deal, which benefits from new investment-grade ratings from <strong>Moody\u2019s (Baa1)<\/strong> and <strong>Fitch (BBB+)<\/strong>.<\/p>\n<h2>Manufacturing Sector Faces Post-Pandemic Job Lows<\/h2>\n<p>The U.S. industrial economy is showing signs of severe labor stress, as manufacturers cut jobs at the fastest rate since the COVID-19 pandemic. According to the <strong>S&amp;P Global Flash U.S. Composite PMI<\/strong>, the manufacturing employment index plunged to <strong>47.0<\/strong> in June from <strong>51.6<\/strong> in May.<\/p>\n<p>While overall manufacturing output reached a <strong>59-month high<\/strong>, the disconnect in hiring reflects growing corporate caution. Executives cited <strong>elevated borrowing costs<\/strong>, <strong>raw material inflation<\/strong>, and uncertainty surrounding the <strong>Middle East conflict<\/strong> as primary reasons for reducing headcounts despite steady production levels.<\/p>\n<h2>Geopolitical Shifts: Iran Peace Talks and Maritime Law<\/h2>\n<p>In a significant diplomatic move, Iranian President <strong>Masoud Pezeshkian<\/strong> arrived in Pakistan on Tuesday to meet with officials mediating a permanent end to the conflict with the U.S. and Israel. The visit coincides with high-level negotiations in <strong>Switzerland<\/strong> led by U.S. Vice President <strong>JD Vance<\/strong>, though discrepancies remain regarding nuclear site inspections.<\/p>\n<p>Simultaneously, U.S. Secretary of State <strong>Marco Rubio<\/strong> reinforced a hardline stance on maritime commerce. Rubio stated that <strong>no nation is permitted to charge tolls<\/strong> on international waterways like the <strong>Strait of Hormuz<\/strong>, characterizing such proposals as violations of established international law.<\/p>\n<h2>Regulatory Crackdowns: Shopify and Google Policy Changes<\/h2>\n<p>Shopify (<a href=\"\/stock\/SHOP\">SHOP<\/a>) is moving to bar all vape and e-cigarette sales from its e-commerce infrastructure as early as this week. The decision follows a year of discussions with a bipartisan coalition of <strong>25 state attorneys general<\/strong> targeting the infrastructure of the illegal vape industry, which has grown into a multi-billion dollar market.<\/p>\n<p>Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) is also tightening its platform controls, announcing that financial services advertisers in <strong>24 additional European markets<\/strong> must undergo new verification. Starting <strong>July 23<\/strong>, advertisers must prove they are authorized by national regulators or face immediate ad restrictions, a move intended to combat a surge in online financial scams.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways SpaceX (SPCX) attracted a massive $89 billion in investor demand for its debut investment-grade bond offering, nearly 4.5 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