Up, Up and Away

SpaceX blasts higher on debut but markets are subdued.

London | Brisbane. 15 June 2026. For immediate release.

SpaceX shares opened at $150 (a 11% pop), climbed as high as $176 intraday (nearly +31%), and closed up 19% at $160.95, instantly valuing the company above $2 trillion and making Elon Musk the world’s first trillionaire. But markets have moved on and the next few weeks will be challenging.

The ECB hiked rates 25bps and the Bank of Japan’s Ueda pretty much told markets a 25bps hike was going to happen on Tuesday, the same day that Kevin Warsh chairs his first FOMC meeting.

Last week’s US CPI and PPI will be hard to overlook with the YoY headline numbers coming in at 4.2% and 6.5% but central bankers always have their standard esoteric playbook which is finding an unknown metric to suddenly follow. One which shows inflation is conveniently subdued. It’s the Dallas Fed Trimmed Mean PCE whose latest reading was 2.3% YoY, and Warsh has already publicly stated that it is his preference.

With the US Treasury adopting a growth-at-all-costs strategy to inflate away the debt, Warsh may well be tempted to join them on the biggest financial gamble in history. For markets this could be the greatest one way bet of all time. Short rates to zero but bond investors beware.

Here’s the podcast

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Ian Reynolds: Trader & Investor | Former Bank Foreign Exchange Market Maker | Early investor in Bitcoin & Tech Founder. Helping investors understand the radical changes coming in macroeconomics and geopolitics.

Suberia Capital: Special situations investing for high net worth individuals.

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