{"id":89577,"date":"2026-06-26T17:48:00","date_gmt":"2026-06-26T14:48:00","guid":{"rendered":"https:\/\/aftoforo.com\/0611bbbc5db16347f4f58b69d0735590f5948b6a1d1010c991359fdf6522451ecf0611bbbc5db16347f4f58b69d0735590f5948b6a1d1010c991359fdf6522451e840611bbbc5db16347f4f58b69d0735590f5948b6a1d1010c991359fdf6522451ece0611bbbc5db16347f4f58b69d0735"},"modified":"2026-06-28T13:02:43","modified_gmt":"2026-06-28T10:02:43","slug":"%cf%84%ce%bf-colpo-grosso-%cf%84%ce%bf%cf%85-elon-musk-%ce%bc%ce%b5-%cf%84%ce%b1-%ce%bf%ce%bc%cf%8c%ce%bb%ce%bf%ce%b3%ce%b1-%cf%84%ce%b7%cf%82-spacex-%ce%b5%ce%be%ce%b5%ce%bb%ce%af%cf%83%cf%83%ce%b5","status":"publish","type":"post","link":"https:\/\/aftoforo.com\/en\/%cf%84%ce%bf-colpo-grosso-%cf%84%ce%bf%cf%85-elon-musk-%ce%bc%ce%b5-%cf%84%ce%b1-%ce%bf%ce%bc%cf%8c%ce%bb%ce%bf%ce%b3%ce%b1-%cf%84%ce%b7%cf%82-spacex-%ce%b5%ce%be%ce%b5%ce%bb%ce%af%cf%83%cf%83%ce%b5\/","title":{"rendered":"\u03a4\u03bf colpo grosso \u03c4\u03bf\u03c5 Elon Musk \u03bc\u03b5 \u03c4\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03c4\u03b7\u03c2 SpaceX \u03b5\u03be\u03b5\u03bb\u03af\u03c3\u03c3\u03b5\u03c4\u03b1\u03b9 \u03c3\u03b5 \u03c0\u03b1\u03bd\u03c9\u03bb\u03b5\u03b8\u03c1\u03af\u03b1 \u2013 \u0393\u03b9\u03b1\u03c4\u03af \u03bf\u03b9 traders \u03b2\u03bb\u03ad\u03c0\u03bf\u03c5\u03bd \u00ab\u03c4\u03ad\u03bb\u03b5\u03b9\u03b1 \u03ba\u03b1\u03c4\u03b1\u03b9\u03b3\u03af\u03b4\u03b1\u00bb"},"content":{"rendered":"<p>\u039f\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03ad\u03c7\u03b1\u03c3\u03b1\u03bd 400 \u03b5\u03ba\u03b1\u03c4. \u03c3\u03b5 48 \u03ce\u03c1\u03b5\u03c2\u2026 \u200b<\/p><p>\u039f\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03ad\u03c7\u03b1\u03c3\u03b1\u03bd 400 \u03b5\u03ba\u03b1\u03c4. \u03c3\u03b5 48 \u03ce\u03c1\u03b5\u03c2\u2026<\/p><div class=\"itemFullText\"> \u0394 <strong>\u03b7\u03bc\u03bf\u03c3\u03b9\u03b5\u03cd\u03bc\u03b1\u03c4\u03b1<\/strong> <strong>\u03b1\u03c0\u03b5\u03ba\u03ac\u03bb\u03c5\u03c0\u03c4\u03b1\u03bd<\/strong> \u03cc\u03c4\u03b9 \u03b7 \u03c0\u03c1\u03ce\u03c4\u03b7 <strong>\u03bf\u03bc\u03bf\u03bb\u03bf\u03b3\u03b9\u03b1\u03ba\u03ae<\/strong> \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ae\u03c2 \u03b2\u03b1\u03b8\u03bc\u03af\u03b4\u03b1\u03c2 \u03c4\u03b7\u03c2 <strong>SpaceX<\/strong> \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03b5\u03b9\u03c3\u03b1\u03b3\u03c9\u03b3\u03ae \u03c4\u03b7\u03c2 \u03c3\u03c4\u03bf \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03b9\u03c3\u03c4\u03ae\u03c1\u03b9\u03bf (\u03ba\u03b1\u03b9 \u03c0\u03c1\u03ac\u03b3\u03bc\u03b1\u03c4\u03b9 \u03ae\u03c4\u03b1\u03bd \u03b7 \u03c0\u03c1\u03ce\u03c4\u03b7, \u03ba\u03b1\u03b8\u03ce\u03c2 \u03b7 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03ad\u03c3\u03c0\u03b5\u03c5\u03c3\u03b5 \u03bd\u03b1 \u03c0\u03c1\u03bf\u03c3\u03c6\u03cd\u03b3\u03b5\u03b9 \u03c3\u03c4\u03b9\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ad\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03b9\u03ce\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03bc\u03cc\u03bb\u03b9\u03c2 \u03bb\u03af\u03b3\u03b5\u03c2 \u03b7\u03bc\u03ad\u03c1\u03b5\u03c2 \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd IPO \u03c4\u03b7\u03c2, \u03ad\u03c7\u03bf\u03bd\u03c4\u03b1\u03c2 \u03bb\u03ac\u03b2\u03b5\u03b9 \u03c7\u03b1\u03bc\u03b7\u03bb\u03ae \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ae \u03b1\u03be\u03b9\u03bf\u03bb\u03cc\u03b3\u03b7\u03c3\u03b7 Baa1\/BBB) \u03c4\u03b9\u03bc\u03bf\u03bb\u03bf\u03b3\u03ae\u03b8\u03b7\u03ba\u03b5, \u03bc\u03b5 \u03c4\u03b7 \u03b6\u03ae\u03c4\u03b7\u03c3\u03b7 \u03bd\u03b1 \u03c5\u03c0\u03b5\u03c1\u03ba\u03b1\u03bb\u03cd\u03c0\u03c4\u03b5\u03b9 \u03c4\u03b7\u03bd \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03c3\u03c7\u03b5\u03b4\u03cc\u03bd \u03ba\u03b1\u03c4\u03ac \u03c4\u03ad\u03c3\u03c3\u03b5\u03c1\u03b9\u03c2 \u03c6\u03bf\u03c1\u03ad\u03c2.<br \/> \u039f\u03b9 \u03c0\u03c1\u03bf\u03c3\u03c6\u03bf\u03c1\u03ad\u03c2 \u03ad\u03c6\u03c4\u03b1\u03c3\u03b1\u03bd \u03c0\u03b5\u03c1\u03af\u03c0\u03bf\u03c5 \u03c4\u03b1 90 \u03b4\u03b9\u03c2. \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1 \u03b3\u03b9\u03b1 \u03bc\u03b9\u03b1 \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03cd\u03c8\u03bf\u03c5\u03c2 25 \u03b4\u03b9\u03c2. \u03b4\u03bf\u03bb\u03b1\u03c1\u03af\u03c9\u03bd (\u03b1\u03c5\u03be\u03b7\u03bc\u03ad\u03bd\u03b7 \u03b1\u03c0\u03cc \u03c4\u03b1 \u03b1\u03c1\u03c7\u03b9\u03ba\u03ac 20 \u03b4\u03b9\u03c3.), \u03b3\u03b5\u03b3\u03bf\u03bd\u03cc\u03c2 \u03c0\u03bf\u03c5 \u03c6\u03b1\u03b9\u03bd\u03cc\u03c4\u03b1\u03bd \u03bd\u03b1 \u03b5\u03c0\u03b9\u03b2\u03b5\u03b2\u03b1\u03b9\u03ce\u03bd\u03b5\u03b9 \u03c4\u03b7\u03bd \u03b1\u03b4\u03b9\u03ac\u03ba\u03bf\u03c0\u03b7 \u03cc\u03c1\u03b5\u03be\u03b7 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ce\u03bd \u03b3\u03b9\u03b1 \u03c4\u03bf \u03c3\u03c5\u03b3\u03ba\u03b5\u03ba\u03c1\u03b9\u03bc\u03ad\u03bd\u03bf \u03c7\u03c1\u03b5\u03cc\u03b3\u03c1\u03b1\u03c6\u03bf.<br \/> \u03a9\u03c3\u03c4\u03cc\u03c3\u03bf, \u03c7\u03c1\u03b5\u03b9\u03ac\u03c3\u03c4\u03b7\u03ba\u03b1\u03bd \u03bc\u03cc\u03bb\u03b9\u03c2 48 \u03ce\u03c1\u03b5\u03c2 \u03b3\u03b9\u03b1 \u03bd\u03b1 \u03ba\u03b1\u03c4\u03b1\u03c1\u03c1\u03b5\u03cd\u03c3\u03b5\u03b9 \u03bf \u03bc\u03cd\u03b8\u03bf\u03c2 \u03c4\u03b7\u03c2 \u03b9\u03c3\u03c7\u03c5\u03c1\u03ae\u03c2 \u03b6\u03ae\u03c4\u03b7\u03c3\u03b7\u03c2.<br \/> \u03a3\u03cd\u03bc\u03c6\u03c9\u03bd\u03b1 \u03bc\u03b5 \u03c4\u03bf Bloomberg, \u03b7 \u00ab\u03b5\u03bd\u03c4\u03c5\u03c0\u03c9\u03c3\u03b9\u03b1\u03ba\u03ae \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03b1\u03c0\u03bf\u03b4\u03c5\u03bd\u03b1\u03bc\u03ce\u03bd\u03b5\u03c4\u03b1\u03b9 \u03c4\u03cc\u03c3\u03bf \u03b3\u03c1\u03ae\u03b3\u03bf\u03c1\u03b1 \u03c3\u03c4\u03b7 \u03b4\u03b5\u03c5\u03c4\u03b5\u03c1\u03bf\u03b3\u03b5\u03bd\u03ae \u03b1\u03b3\u03bf\u03c1\u03ac, \u03ce\u03c3\u03c4\u03b5 \u03bf\u03b9 traders \u03b4\u03b7\u03bb\u03ce\u03bd\u03bf\u03c5\u03bd \u03cc\u03c4\u03b9 \u03b4\u03b5\u03bd \u03b8\u03c5\u03bc\u03bf\u03cd\u03bd\u03c4\u03b1\u03b9 \u03ac\u03bb\u03bb\u03b7 \u03c3\u03c5\u03bd\u03b1\u03bb\u03bb\u03b1\u03b3\u03ae \u03bc\u03b5 \u03c4\u03cc\u03c3\u03bf \u03b1\u03c0\u03cc\u03c4\u03bf\u03bc\u03b7 \u03b4\u03b9\u03b5\u03cd\u03c1\u03c5\u03bd\u03c3\u03b7 \u03c4\u03c9\u03bd spreads\u00bb.<br \/> \u0391\u03c5\u03c4\u03cc \u03b1\u03ba\u03c1\u03b9\u03b2\u03ce\u03c2 \u03b5\u03bd\u03bd\u03bf\u03bf\u03cd\u03bc\u03b5. <br \/><img decoding=\"async\" src=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/spacex%202056t.jpg?itok=9NstvFuL\" alt=\"\" \/><br \/> \u0395\u03c0\u03b9\u03b2\u03b5\u03b2\u03b1\u03b9\u03ce\u03bd\u03bf\u03bd\u03c4\u03b1\u03c2 \u03c4\u03b1 \u03c3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03c4\u03bf\u03c5 <strong>TRACE<\/strong> \u03b3\u03b9\u03b1 \u03c4\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c0\u03bf\u03c5 \u03ad\u03bb\u03b7\u03be\u03b1\u03bd \u03c4\u03bf 2056, \u03c4\u03bf <strong>Bloomberg<\/strong> \u03b1\u03bd\u03b1\u03c6\u03ad\u03c1\u03b5\u03b9 \u03cc\u03c4\u03b9 \u03bf \u03bc\u03b5\u03b3\u03ac\u03bb\u03bf\u03c2 \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03c5\u03c4\u03ae\u03c2 \u03c0\u03c1\u03bf\u03c3\u03ad\u03c6\u03b5\u03c1\u03b5 \u03c4\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03c4\u03bf\u03c5 SpaceX \u03c3\u03b5 \u03b1\u03c0\u03bf\u03b4\u03cc\u03c3\u03b5\u03b9\u03c2 \u03ad\u03c9\u03c2 \u03ba\u03b1\u03b9 0,32 \u03c0\u03bf\u03c3\u03bf\u03c3\u03c4\u03b9\u03b1\u03af\u03b5\u03c2 \u03bc\u03bf\u03bd\u03ac\u03b4\u03b5\u03c2 \u03c5\u03c8\u03b7\u03bb\u03cc\u03c4\u03b5\u03c1\u03b5\u03c2 \u03b1\u03c0\u03cc \u03c4\u03b7\u03bd \u03c4\u03b9\u03bc\u03ae \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7\u03c2, \u03b7 \u03bf\u03c0\u03bf\u03af\u03b1 \u03b1\u03bd\u03c4\u03b9\u03c3\u03c4\u03bf\u03b9\u03c7\u03bf\u03cd\u03c3\u03b5 \u03c3\u03b5 spread 1,75 \u03c0\u03bf\u03c3\u03bf\u03c3\u03c4\u03b9\u03b1\u03af\u03c9\u03bd \u03bc\u03bf\u03bd\u03ac\u03b4\u03c9\u03bd. \u03c0\u03ac\u03bd\u03c9. \u03b1\u03c0\u03cc \u03c4\u03b1 \u03b1\u03bc\u03b5\u03c1\u03b9\u03ba\u03b1\u03bd\u03b9\u03ba\u03ac \u03ba\u03c1\u03b1\u03c4\u03b9\u03ba\u03ac \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 (Treasuries).<br \/> \u039f\u03b9 \u03c0\u03b1\u03c1\u03ac\u03bb\u03bb\u03b7\u03bb\u03b5\u03c2 \u03c0\u03c9\u03bb\u03ae\u03c3\u03b5\u03b9\u03c2 \u03c3\u03b5 \u03bf\u03bb\u03cc\u03ba\u03bb\u03b7\u03c1\u03b7 \u03c4\u03b7\u03bd \u03ba\u03b1\u03bc\u03c0\u03cd\u03bb\u03b7 \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c4\u03b7\u03c2 <strong>SpaceX<\/strong> \u03c3\u03b7\u03bc\u03b5\u03b9\u03ce\u03bd\u03bf\u03c5\u03bd \u03cc\u03c4\u03b9 \u03bf\u03b9 \u03bb\u03bf\u03b3\u03b9\u03c3\u03c4\u03b9\u03ba\u03ad\u03c2 \u03b6\u03b7\u03bc\u03b9\u03ad\u03c2 \u03c3\u03c4\u03b7\u03bd \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03c4\u03c9\u03bd 25 \u03b4\u03b9\u03b4. \u03b4\u03bf\u03bb\u03b1\u03c1\u03af\u03c9\u03bd \u03b1\u03c5\u03be\u03ae\u03b8\u03b7\u03ba\u03b1\u03bd \u03b1\u03c0\u03cc \u03c4\u03b7 \u03c3\u03c4\u03b9\u03b3\u03bc\u03ae \u03c0\u03bf\u03c5 \u03c4\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03ac\u03c1\u03c7\u03b9\u03c3\u03b1\u03bd \u03bd\u03b1 \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c4\u03b7\u03bd \u03a4\u03b5\u03c4\u03ac\u03c1\u03c4\u03b7\u2026<br \/> \u039c\u03ac\u03bb\u03b9\u03c3\u03c4\u03b1, \u03bc\u03ad\u03c7\u03c1\u03b9 \u03c4\u03b7\u03bd <strong>\u03a0\u03b1\u03c1\u03b1\u03c3\u03ba\u03b5\u03c5\u03ae 26\/6<\/strong> , \u03b1\u03bd\u03ad\u03c1\u03c7\u03bf\u03bd\u03c4\u03b1\u03bd \u03c3\u03b5 \u03c0\u03b5\u03c1\u03af\u03c0\u03bf\u03c5 400 \u03b5\u03ba\u03b1\u03c4. \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1 \u03c3\u03b5 \u03c3\u03c7\u03ad\u03c3\u03b7 \u03bc\u03b5 \u03c4\u03b1 <strong>Treasuries<\/strong> .<br \/> \u03a4\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7\u03c2 \u03b4\u03b9\u03ac\u03c1\u03ba\u03b5\u03b9\u03b1\u03c2, \u03c0\u03bf\u03c5 \u03b5\u03af\u03c7\u03b1\u03bd \u03c0\u03c1\u03bf\u03ba\u03b1\u03bb\u03ad\u03c3\u03b5\u03b9 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03bf \u03c3\u03ba\u03b5\u03c0\u03c4\u03b9\u03ba\u03b9\u03c3\u03bc\u03cc \u03c3\u03b5 \u03c3\u03c7\u03ad\u03c3\u03b7 \u03bc\u03b5 \u03b5\u03ba\u03b5\u03af\u03bd\u03b1 \u03c4\u03b1 \u03bc\u03b9\u03ba\u03c1\u03cc\u03c4\u03b5\u03c1\u03b1, \u03ad\u03c7\u03bf\u03c5\u03bd \u03c0\u03bb\u03ad\u03bf\u03bd \u03b1\u03c0\u03bf\u03b2\u03ac\u03bb\u03b5\u03b9 \u03c4\u03b9\u03c2 \u03b1\u03c0\u03bf\u03c4\u03b9\u03bc\u03ae\u03c3\u03b5\u03b9\u03c2 \u03c0\u03bf\u03c5 \u03b5\u03af\u03c7\u03b1\u03bd \u03c0\u03b5\u03c4\u03cd\u03c7\u03b5\u03b9 \u03bf\u03b9 \u03b1\u03bd\u03ac\u03b4\u03bf\u03c7\u03bf\u03b9.<br \/> <strong>\u0391\u03c5\u03c4\u03ac \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03c5\u03c0\u03bf\u03c4\u03b9\u03b8\u03ad\u03bc\u03b5\u03bd\u03b7 \u03c5\u03c0\u03b5\u03c1\u03ba\u03ac\u03bb\u03c5\u03c8\u03b7.<\/strong><br \/> \u039f\u03b9 \u03ad\u03bc\u03c0\u03bf\u03c1\u03bf\u03b9 \u03c0\u03bf\u03c5 \u03bc\u03af\u03bb\u03b7\u03c3\u03b1\u03bd \u03c3\u03c4\u03bf Bloomberg \u03b5\u03ba\u03c4\u03b9\u03bc\u03bf\u03cd\u03bd \u03cc\u03c4\u03b9 \u03bf\u03b9 \u03ba\u03b9\u03bd\u03ae\u03c3\u03b5\u03b9\u03c2 \u03b1\u03c5\u03c4\u03ad\u03c2 \u03c5\u03c0\u03bf\u03b4\u03b7\u03bb\u03ce\u03bd\u03bf\u03c5\u03bd \u03c0\u03c9\u03c2 \u03c3\u03c4\u03b7\u03bd \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03c3\u03c5\u03bc\u03bc\u03b5\u03c4\u03b5\u03af\u03c7\u03b1\u03bd \u03ba\u03c5\u03c1\u03af\u03c9\u03c2 \u03b2\u03c1\u03b1\u03c7\u03c5\u03c0\u03c1\u03cc\u03b8\u03b5\u03c3\u03bc\u03b1 \u03ba\u03b5\u03c6\u03ac\u03bb\u03b1\u03b9\u03b1 (\u00abfast-money accounts\u00bb) \u03ba\u03b1\u03b9 \u03cc\u03c7\u03b9 \u03bf\u03b9 \u03c0\u03b1\u03c1\u03b1\u03b4\u03bf\u03c3\u03b9\u03b1\u03ba\u03bf\u03af \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03b3\u03bf\u03c1\u03ac\u03b6\u03bf\u03c5\u03bd \u03ba\u03b1\u03b9 \u03b4\u03b9\u03b1\u03ba\u03c1\u03b1\u03c4\u03bf\u03cd\u03bd \u03c4\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03ac \u03c4\u03bf\u03c5\u03c2 \u03bc\u03ad\u03c7\u03c1\u03b9 \u03c4\u03b7 \u03bb\u03ae\u03be\u03b7 \u03c4\u03bf\u03c5\u03c2.<br \/> \u039c\u03b5 \u03ac\u03bb\u03bb\u03b1 \u03bb\u03cc\u03b3\u03b9\u03b1, \u03bf\u03b9 \u00ab <strong>\u03ba\u03c5\u03bd\u03b7\u03b3\u03bf\u03af<\/strong> \u03c4\u03bf\u03c5 <strong>momentum<\/strong> \u00bb \u03c0\u03bf\u03c5 \u03ba\u03c5\u03c1\u03b9\u03ac\u03c1\u03c7\u03b7\u03c3\u03b1\u03bd \u03c3\u03c4\u03b9\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b1\u03c0\u03bf\u03c6\u03ac\u03c3\u03b9\u03c3\u03b1\u03bd \u03bd\u03b1 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\u03bb\u03b7\u03c6\u03b8\u03b5\u03af \u03c5\u03c0\u03cc\u03c8\u03b7 \u03cc\u03c4\u03b9 \u03b7 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ae \u03c4\u03b7\u03c2 SpaceX \u03c0\u03b1\u03c1\u03ad\u03bc\u03b5\u03b9\u03bd\u03b5 \u03c3\u03b5 \u03b3\u03b5\u03bd\u03b9\u03ba\u03ad\u03c2 \u03b3\u03c1\u03b1\u03bc\u03bc\u03ad\u03c2 \u03c3\u03c4\u03b1\u03b8\u03b5\u03c1\u03ae \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03c4\u03b9\u03bc\u03bf\u03bb\u03cc\u03b3\u03b7\u03c3\u03b7 \u03c4\u03c9\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c4\u03b7\u03bd \u03a4\u03c1\u03af\u03c4\u03b7, \u03bc\u03b5\u03c4\u03ac \u03b1\u03c0\u03cc \u03c0\u03c4\u03ce\u03c3\u03b7 16% \u03c4\u03b7\u03bd \u03c0\u03c1\u03bf\u03b7\u03b3\u03bf\u03cd\u03bc\u03b5\u03bd\u03b7 \u03b7\u03bc\u03ad\u03c1\u03b1.<br \/> \u0392\u03ad\u03b2\u03b1\u03b9\u03b1, \u03b1\u03c5\u03c4\u03cc \u03b4\u03b5\u03bd \u03c3\u03b7\u03bc\u03b1\u03af\u03bd\u03b5\u03b9 \u03cc\u03c4\u03b9 \u03b7 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ae \u03ae\u03c4\u03b1\u03bd 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\u03b1\u03c0\u03cc \u03c4\u03b9\u03c2 \u03c0\u03c9\u03bb\u03ae\u03c3\u03b5\u03b9\u03c2, \u03cc\u03c0\u03c9\u03c2 \u03b7 \u03ba\u03ac\u03bb\u03c5\u03c8\u03b7 \u03ae \u03b7 \u03b1\u03bd\u03c4\u03b9\u03c3\u03c4\u03ac\u03b8\u03bc\u03b9\u03c3\u03b7 short \u03b8\u03ad\u03c3\u03b5\u03c9\u03bd \u03b1\u03c0\u03cc hedge funds, \u03b7 \u03c0\u03c1\u03c9\u03c4\u03bf\u03c6\u03b1\u03bd\u03ae\u03c2 \u03ad\u03bd\u03c4\u03b1\u03c3\u03b7 \u03c4\u03c9\u03bd \u03c1\u03b5\u03c5\u03c3\u03c4\u03bf\u03c0\u03bf\u03b9\u03ae\u03c3\u03b5\u03c9\u03bd \u03c5\u03c0\u03bf\u03b3\u03c1\u03b1\u03bc\u03bc\u03af\u03b6\u03b5\u03b9 \u03c4\u03b7 \u03bc\u03bf\u03bd\u03b1\u03b4\u03b9\u03ba\u03ae \u03c0\u03b5\u03c1\u03af\u03c0\u03c4\u03c9\u03c3\u03b7 \u03c4\u03b7\u03c2 SpaceX.<br \/> \u0397 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1, \u03b7 \u03bf\u03c0\u03bf\u03af\u03b1 \u03bd\u03c9\u03c1\u03af\u03c4\u03b5\u03c1\u03b1 \u03bc\u03ad\u03c3\u03b1 \u03c3\u03c4\u03bf\u03bd \u03bc\u03ae\u03bd\u03b1 \u03b5\u03af\u03c7\u03b5 <strong>\u03c6\u03c4\u03ac\u03c3\u03b5\u03b9<\/strong> \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03b9\u03c3\u03c4\u03b7\u03c1\u03b9\u03b1\u03ba\u03ae \u03b1\u03be\u03af\u03b1 <strong>2,64 \u03c4\u03c1\u03b9\u03c2. \u03b4\u03bf\u03bb\u03b1\u03c1\u03af\u03c9\u03bd<\/strong> , \u03b1\u03c0\u03ad\u03ba\u03c4\u03b7\u03c3\u03b5 \u03b1\u03be\u03b9\u03bf\u03bb\u03cc\u03b3\u03b7\u03c3\u03b7 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ae\u03c2 \u03b2\u03b1\u03b8\u03bc\u03af\u03b4\u03b1\u03c2 \u03c0\u03b1\u03c1\u03ac \u03c4\u03b9\u03c2 \u03c0\u03c1\u03bf\u03b2\u03bb\u03ad\u03c8\u03b5\u03b9\u03c2 \u03b3\u03b9\u03b1 \u03c0\u03bf\u03bb\u03c5\u03b5\u03c4\u03b5\u03af\u03c2 \u03b1\u03c1\u03bd\u03b7\u03c4\u03b9\u03ba\u03ad\u03c2 \u03c4\u03b1\u03bc\u03b5\u03b9\u03b1\u03ba\u03ad\u03c2 \u03c1\u03bf\u03ad\u03c2 \u03ba\u03b1\u03b9 \u03c4\u03b7\u03bd \u03ad\u03bd\u03c4\u03bf\u03bd\u03b7 \u03b5\u03be\u03ac\u03c1\u03c4\u03b7\u03c3\u03ae \u03c4\u03b7\u03c2 \u03b1\u03c0\u03cc \u03c4\u03bf\u03bd Elon Musk, \u03c4\u03b7\u03bd \u03bf\u03c0\u03bf\u03af\u03b1 \u03b7 <strong>Fitch Ratings<\/strong> \u03c7\u03b1\u03c1\u03b1\u03ba\u03c4\u03ae\u03c1\u03b9\u03c3\u03b5 \u03c9\u03c2 \u00ab\u03b2\u03b1\u03c3\u03b9\u03ba\u03cc\u03c2 \u03c0\u03b5\u03c1\u03b9\u03bf\u03c1\u03b9\u03c3\u03c4\u03b9\u03ba\u03cc\u03c2 \u03c0\u03b1\u03c1\u03ac\u03b3\u03bf\u03bd\u03c4\u03b1\u03c2 \u03c4\u03b7\u03c2 \u03c0\u03b9\u03c3\u03c4\u03bf\u03bb\u03b7\u03c0\u03c4\u03b9\u03ba\u03ae\u03c2 \u03b1\u03be\u03b9\u03bf\u03bb\u03cc\u03b3\u03b7\u03c3\u03b7\u03c2\u00bb.<br \/> \u00ab\u03a0\u03b5\u03c1\u03b9\u03bc\u03ad\u03bd\u03b1\u03bc\u03b5 \u03cc\u03c4\u03b9 \u03c4\u03b1 spreads \u03c4\u03b7\u03c2 SpaceX \u03b8\u03b1 \u03b4\u03b9\u03b5\u03c5\u03c1\u03cd\u03bd\u03bf\u03bd\u03c4\u03b1\u03bd \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7, \u03b1\u03bb\u03bb\u03ac \u03cc\u03c7\u03b9 \u03c3\u03b5 \u03c4\u03ad\u03c4\u03bf\u03b9\u03bf \u03b2\u03b1\u03b8\u03bc\u03cc\u00bb \u03b4\u03ae\u03bb\u03c9\u03c3\u03b5 \u03bf Tony Trzcinka, \u03b4\u03b9\u03b1\u03c7\u03b5\u03b9\u03c1\u03b9\u03c3\u03c4\u03ae\u03c2 \u03c7\u03b1\u03c1\u03c4\u03bf\u03c6\u03c5\u03bb\u03b1\u03ba\u03af\u03bf\u03c5 \u03c3\u03c4\u03b7\u03bd Impax Asset Management.<br \/> \u00ab\u03a4\u03bf \u03bc\u03ad\u03b3\u03b5\u03b8\u03bf\u03c2 \u03c4\u03b7\u03c2 \u03b4\u03b9\u03b5\u03cd\u03c1\u03c5\u03bd\u03c3\u03b7\u03c2 \u03b5\u03af\u03bd\u03b1\u03b9 \u03c0\u03b9\u03b8\u03b1\u03bd\u03cc\u03c4\u03b1\u03c4\u03b1 \u03b1\u03c0\u03bf\u03c4\u03ad\u03bb\u03b5\u03c3\u03bc\u03b1 \u03bc\u03b9\u03b1\u03c2 \u03c4\u03ad\u03bb\u03b5\u03b9\u03b1\u03c2 \u03ba\u03b1\u03c4\u03b1\u03b9\u03b3\u03af\u03b4\u03b1\u03c2: \u03b7 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ae \u03ad\u03c7\u03b5\u03b9 \u03c7\u03ac\u03c3\u03b5\u03b9 \u03c0\u03ac\u03bd\u03c9 \u03b1\u03c0\u03cc 600 \u03b4\u03b9\u03c2. \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1 \u03c3\u03b5 \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03b9\u03c3\u03c4\u03b7\u03c1\u03b9\u03b1\u03ba\u03ae \u03b1\u03be\u03af\u03b1 \u03b1\u03c0\u03cc \u03c4\u03b7\u03bd IPO, \u03b7 \u03b1\u03c5\u03be\u03b7\u03bc\u03ad\u03bd\u03b7 \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03b5\u03c0\u03b9\u03b2\u03b5\u03b2\u03b1\u03af\u03c9\u03c3\u03b5 \u03c4\u03b7\u03bd \u03c4\u03b5\u03c7\u03bd\u03b9\u03ba\u03ae \u03b5\u03b9\u03ba\u03cc\u03bd\u03b1 \u03c4\u03b7\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03ba\u03b1\u03b9 \u03bf\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03b5\u03be\u03b1\u03ba\u03bf\u03bb\u03bf\u03c5\u03b8\u03bf\u03cd\u03bd \u03bd\u03b1 \u03c0\u03c1\u03bf\u03c3\u03c0\u03b1\u03b8\u03bf\u03cd\u03bd \u03bd\u03b1 \u03ba\u03b1\u03c4\u03b1\u03bb\u03ac\u03b2\u03bf\u03c5\u03bd \u03c0\u03ce\u03c2 \u03c0\u03c1\u03ad\u03c0\u03b5\u03b9 \u03bd\u03b1 \u03b1\u03c0\u03bf\u03c4\u03b9\u03bc\u03ae\u03c3\u03bf\u03c5\u03bd \u03c4\u03bf \u03bc\u03bf\u03bd\u03b1\u03b4\u03b9\u03ba\u03cc \u03c0\u03c1\u03bf\u03c6\u03af\u03bb \u03ba\u03b9\u03bd\u03b4\u03cd\u03bd\u03bf\u03c5 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2.\u00bb<br \/> <strong>\u039f\u03b9 \u03c0\u03c9\u03bb\u03ae\u03c3\u03b5\u03b9\u03c2 \u03c3\u03c4\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03c4\u03b7\u03c2 SpaceX \u03b1\u03c0\u03bf\u03c4\u03b5\u03bb\u03bf\u03cd\u03bd \u03c3\u03c0\u03ac\u03bd\u03b9\u03bf \u03c6\u03b1\u03b9\u03bd\u03cc\u03bc\u03b5\u03bd\u03bf \u03c3\u03b5 \u03c3\u03cd\u03b3\u03ba\u03c1\u03b9\u03c3\u03b7 \u03bc\u03b5 \u03ac\u03bb\u03bb\u03b5\u03c2 \u03bc\u03b5\u03b3\u03ac\u03bb\u03b5\u03c2 \u03b5\u03ba\u03b4\u03cc\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b9\u03ba\u03ce\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c3\u03c4\u03b7 \u03b4\u03b5\u03c5\u03c4\u03b5\u03c1\u03bf\u03b3\u03b5\u03bd\u03ae \u03b1\u03b3\u03bf\u03c1\u03ac.<\/strong><br \/> \u03a7\u03b1\u03c1\u03b1\u03ba\u03c4\u03b7\u03c1\u03b9\u03c3\u03c4\u03b9\u03ba\u03cc \u03c0\u03b1\u03c1\u03ac\u03b4\u03b5\u03b9\u03b3\u03bc\u03b1 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 Nvidia, \u03b7 \u03bf\u03c0\u03bf\u03af\u03b1 \u03ac\u03bd\u03c4\u03bb\u03b7\u03c3\u03b5 \u03b5\u03c0\u03af\u03c3\u03b7\u03c2 25 \u03b4\u03b9\u03c2. \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1 \u03b1\u03c5\u03c4\u03cc\u03bd \u03c4\u03bf\u03bd \u03bc\u03ae\u03bd\u03b1 \u03bc\u03ad\u03c3\u03c9 \u03b5\u03ba\u03b4\u03cc\u03c3\u03b5\u03c9\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c5\u03c8\u03b7\u03bb\u03ae\u03c2 \u03c0\u03b9\u03c3\u03c4\u03bf\u03bb\u03b7\u03c0\u03c4\u03b9\u03ba\u03ae\u03c2 \u03b4\u03b9\u03b1\u03b2\u03ac\u03b8\u03bc\u03b9\u03c3\u03b7\u03c2.<br \/> <strong>\u03a4\u03b1 \u03b1\u03c0\u03bb\u03ac \u03c4\u03c9\u03bd<\/strong> \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c4\u03b7\u03c2 \u03bc\u03b5 \u03ba\u03bf\u03c5\u03c0\u03cc\u03bd\u03b9 5,55% \u03ba\u03b1\u03b9 \u03bb\u03ae\u03be\u03b7 \u03c4\u03bf 2046 \u03ad\u03c7\u03bf\u03c5\u03bd \u03b4\u03b9\u03b5\u03c5\u03c1\u03c5\u03bd\u03b8\u03b5\u03af \u03bc\u03cc\u03bb\u03b9\u03c2 \u03ba\u03b1\u03c4\u03ac 11 \u03bc\u03bf\u03bd\u03ac\u03b4\u03b5\u03c2 \u03b2\u03ac\u03c3\u03b7\u03c2 \u03b1\u03c0\u03cc \u03c4\u03b7\u03bd \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7, \u03b5\u03bd\u03ce \u03c4\u03b1 spreads \u03bc\u03b5 \u03ba\u03bf\u03c5\u03c0\u03cc\u03bd\u03b9 5,625% \u03ba\u03b1\u03b9 \u03bb\u03ae\u03be\u03b7 \u03c4\u03bf 2056 \u03ad\u03c7\u03bf\u03c5\u03bd \u03b1\u03c5\u03be\u03b7\u03b8\u03b5\u03af \u03ba\u03b1\u03c4\u03ac 12 \u03bc\u03bf\u03bd\u03ac\u03b4\u03b5\u03c2 \u03b2\u03ac\u03c3\u03b7\u03c2.<br \/> \u0391\u03bd\u03c4\u03af\u03c3\u03c4\u03bf\u03b9\u03c7\u03b1, \u03c4\u03b1 spreads \u03c4\u03c9\u03bd \u03bc\u03b1\u03ba\u03c1\u03bf\u03c0\u03c1\u03cc\u03b8\u03b5\u03c3\u03bc\u03c9\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c4\u03b7\u03c2 Alphabet, \u03c0\u03bf\u03c5 \u03b5\u03ba\u03b4\u03cc\u03b8\u03b7\u03ba\u03b1\u03bd \u03c4\u03bf\u03bd \u03a6\u03b5\u03b2\u03c1\u03bf\u03c5\u03ac\u03c1\u03b9\u03bf, \u03ad\u03c7\u03bf\u03c5\u03bd \u03b3\u03b5\u03bd\u03b9\u03ba\u03ac \u03c3\u03c5\u03c1\u03c1\u03b9\u03ba\u03bd\u03c9\u03b8\u03b5\u03af.<br \/> \u03a0\u03bb\u03ad\u03bf\u03bd, \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03c5\u03c0\u03bf\u03c7\u03ce\u03c1\u03b7\u03c3\u03b7 \u03c4\u03c9\u03bd \u03c4\u03b9\u03bc\u03ce\u03bd, \u03b7 \u03ba\u03b1\u03bc\u03c0\u03cd\u03bb\u03b7 \u03b1\u03c0\u03bf\u03b4\u03cc\u03c3\u03b5\u03b9\u03c2 \u03c4\u03c9\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c4\u03b7\u03c2 SpaceX \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03b5\u03c4\u03b1\u03b9 \u03c3\u03b5 \u03b5\u03c0\u03af\u03c0\u03b5\u03b4\u03b1 \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03bf \u03c3\u03c5\u03b3\u03ba\u03c1\u03af\u03c3\u03b9\u03bc\u03b1 \u03bc\u03b5 \u03b5\u03ba\u03b5\u03af\u03bd\u03b1 \u03c4\u03b7\u03c2 Oracle, \u03b7 \u03bf\u03c0\u03bf\u03af\u03b1 \u03b4\u03b9\u03b1\u03b8\u03ad\u03c4\u03b5\u03b9 \u03b1\u03bd\u03c4\u03af\u03c3\u03c4\u03bf\u03b9\u03c7\u03b7 \u03c0\u03b9\u03c3\u03c4\u03bf\u03bb\u03b7\u03c0\u03c4\u03b9\u03ba\u03ae \u03b1\u03be\u03b9\u03bf\u03bb\u03cc\u03b3\u03b7\u03c3\u03b7 \u03ba\u03b1\u03b9 \u03c4\u03b7\u03bd \u03bf\u03c0\u03bf\u03af\u03b1 \u03c4\u03b1 \u03bc\u03b1\u03ba\u03c1\u03bf\u03c0\u03c1\u03cc\u03b8\u03b5\u03c3\u03bc\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03b5\u03af\u03c7\u03b1\u03bd \u03b5\u03c0\u03af\u03c3\u03b7\u03c2 \u03b4\u03b9\u03b5\u03c5\u03c1\u03cd\u03bd\u03b5\u03b9 \u03c4\u03b1 spreads \u03c4\u03bf\u03c5\u03c2 \u03bb\u03af\u03b3\u03bf \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03b1\u03c1\u03c7\u03b9\u03ba\u03ae \u03c4\u03bf\u03c5\u03c2 \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7. <br \/><img decoding=\"async\" src=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/spacex%20vs%20oracle.jpg?itok=EQmWHGXC\" alt=\"\" \/><br \/> <strong>\u03a3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03b1 \u03b5\u03bd\u03b1\u03bb\u03bb\u03b1\u03ba\u03c4\u03b9\u03ba\u03ce\u03bd \u03c0\u03b9\u03c3\u03c4\u03c9\u03c4\u03b9\u03ba\u03ce\u03bd \u03ba\u03b9\u03bd\u03b4\u03cd\u03bd\u03bf\u03c5 (Credit Default Swaps)<\/strong><p> \u0388\u03bd\u03b1\u03c2 \u03c4\u03c1\u03cc\u03c0\u03bf\u03c2 \u03bd\u03b1 \u03c0\u03b1\u03c1\u03b1\u03ba\u03bf\u03bb\u03bf\u03c5\u03b8\u03ae\u03c3\u03b5\u03b9 \u03ba\u03b1\u03bd\u03b5\u03af\u03c2 \u03c4\u03b7\u03bd <strong>\u03c0\u03b9\u03c3\u03c4\u03c9\u03c4\u03b9\u03ba\u03ae<\/strong> \u03b1\u03c0\u03cc\u03b4\u03bf\u03c3\u03b7 \u03c4\u03b7\u03c2 <strong>SpaceX<\/strong> \u03b5\u03af\u03bd\u03b1\u03b9 \u03bc\u03ad\u03c3\u03c9 \u03c4\u03c9\u03bd CDS (Credit Default Swaps), \u03ba\u03b1\u03b8\u03ce\u03c2 \u03c4\u03b1 \u03c3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03b1 \u03b5\u03bd\u03b1\u03bb\u03bb\u03b1\u03ba\u03c4\u03b9\u03ba\u03ce\u03bd \u03c0\u03b9\u03c3\u03c4\u03c9\u03c4\u03b9\u03ba\u03ce\u03bd \u03c0\u03bf\u03c5 \u03c3\u03c5\u03bd\u03b4\u03ad\u03bf\u03bd\u03c4\u03b1\u03b9 \u03bc\u03b5 \u03c4\u03b7\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03ac\u03c1\u03c7\u03b9\u03c3\u03b1\u03bd \u03bd\u03b1 \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03bf\u03bd\u03c4\u03b1\u03b9 \u03b5\u03bd\u03b5\u03c1\u03b3\u03ac \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd <strong>\u03c0\u03c1\u03ce\u03c4\u03b7<\/strong> <strong>\u03ad\u03ba\u03b4\u03bf\u03c3\u03b7<\/strong> <strong>\u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd<\/strong> <strong>\u03c5\u03c8\u03b7\u03bb\u03ae\u03c2<\/strong> <strong>\u03c0\u03b9\u03c3\u03c4\u03bf\u03bb\u03b7\u03c0\u03c4\u03b9\u03ba\u03ae\u03c2<\/strong> <strong>\u03b4\u03b9\u03b1\u03b2\u03ac\u03b8\u03bc\u03b9\u03c3\u03b7\u03c2<\/strong> \u03c0\u03bf\u03c5 \u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03bf\u03c0\u03bf\u03af\u03b7\u03c3\u03b5 \u03b1\u03c5\u03c4\u03ae \u03c4\u03b7\u03bd \u03b5\u03b2\u03b4\u03bf\u03bc\u03ac\u03b4\u03b1.<br \/> \u0391\u03c5\u03c4\u03cc \u03b4\u03af\u03bd\u03b5\u03b9 \u03c3\u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03c4\u03b7 \u03b4\u03c5\u03bd\u03b1\u03c4\u03cc\u03c4\u03b7\u03c4\u03b1 \u03b5\u03af\u03c4\u03b5 \u03bd\u03b1 \u03b1\u03bd\u03c4\u03b9\u03c3\u03c4\u03b1\u03b8\u03bc\u03af\u03c3\u03bf\u03c5\u03bd \u03c0\u03b9\u03b8\u03b1\u03bd\u03ad\u03c2 \u03b6\u03b7\u03bc\u03af\u03b5\u03c2 \u03b5\u03af\u03c4\u03b5 \u03bd\u03b1 \u03c3\u03c4\u03bf\u03b9\u03c7\u03b7\u03bc\u03b1\u03c4\u03af\u03c3\u03bf\u03c5\u03bd \u03c3\u03c4\u03b7\u03bd \u03c0\u03b9\u03c3\u03c4\u03bf\u03bb\u03b7\u03c0\u03c4\u03b9\u03ba\u03ae \u03b9\u03ba\u03b1\u03bd\u03cc\u03c4\u03b7\u03c4\u03b1 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2.<br \/> \u039a\u03b1\u03b9 \u03c0\u03c1\u03ac\u03b3\u03bc\u03b1\u03c4\u03b9, \u03c4\u03b1 CD \u03c4\u03b7\u03c2 SpaceX \u03ad\u03c7\u03bf\u03c5\u03bd \u03b4\u03b9\u03b5\u03c5\u03c1\u03c5\u03bd\u03b8\u03b5\u03af \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ac \u03b1\u03c0\u03cc \u03c4\u03cc\u03c4\u03b5 \u03c0\u03bf\u03c5 \u03be\u03b5\u03ba\u03af\u03bd\u03b7\u03c3\u03b1\u03bd \u03bd\u03b1 \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03bf\u03bd\u03c4\u03b1\u03b9, \u03b3\u03b5\u03b3\u03bf\u03bd\u03cc\u03c2 \u03c0\u03bf\u03c5 \u03c5\u03c0\u03bf\u03b4\u03b7\u03bb\u03ce\u03bd\u03b5\u03b9 \u03cc\u03c4\u03b9 \u03b7 \u03b1\u03b3\u03bf\u03c1\u03ac \u03b4\u03b5\u03bd \u03c3\u03c5\u03bc\u03bc\u03b5\u03c1\u03af\u03b6\u03b5\u03c4\u03b1\u03b9 \u03c4\u03b7\u03bd \u03b1\u03b9\u03c3\u03b9\u03bf\u03b4\u03bf\u03be\u03af\u03b1 \u03c4\u03bf\u03c5 Elon Musk \u03ae \u03c4\u03c9\u03bd \u03c6\u03b9\u03bb\u03b9\u03ba\u03ce\u03bd \u03b4\u03b9\u03b1\u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03c9\u03bd \u03b1\u03bd\u03b1\u03bb\u03c5\u03c4\u03ce\u03bd \u03c4\u03b7\u03c2 Wall Street, \u03bf\u03b9 \u03bf\u03c0\u03bf\u03af\u03bf\u03b9 \u03c0\u03c1\u03bf\u03b2\u03bb\u03ad\u03c0\u03bf\u03c5\u03bd \u03b1\u03cd\u03be\u03b7\u03c3\u03b7 \u03c4\u03c9\u03bd \u03b5\u03c3\u03cc\u03b4\u03c9\u03bd \u03ba\u03b1\u03c4\u03ac 100 \u03c6\u03bf\u03c1\u03ad\u03c2 \u03ad\u03c9\u03c2 \u03c4\u03bf <strong>2030<\/strong> . <br \/><img decoding=\"async\" src=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/AI%20CDS%20levels.jpg?itok=Tkk4dDvU\" alt=\"\" \/><br \/> <strong>\u03a9\u03c3\u03c4\u03cc\u03c3\u03bf, \u03b5\u03b4\u03ce \u03b1\u03bd\u03b1\u03b4\u03b5\u03b9\u03ba\u03bd\u03cd\u03b5\u03c4\u03b1\u03b9 \u03ad\u03bd\u03b1 \u03c0\u03bf\u03bb\u03cd \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03bf \u03c0\u03c1\u03cc\u03b2\u03bb\u03b7\u03bc\u03b1: \u03cc\u03c0\u03c9\u03c2 \u03b5\u03c0\u03b9\u03c3\u03b7\u03bc\u03b1\u03af\u03bd\u03bf\u03c5\u03bc\u03b5 \u03c3\u03c4\u03b1\u03b8\u03b5\u03c1\u03ac \u03ae\u03b4\u03b7 \u03b1\u03c0\u03cc \u03c4\u03bf\u03bd \u03c0\u03b5\u03c1\u03b1\u03c3\u03bc\u03ad\u03bd\u03bf \u039f\u03ba\u03c4\u03ce\u03b2\u03c1\u03b9\u03bf, \u03cc\u03c4\u03b1\u03bd \u03b3\u03c1\u03ac\u03c6\u03b1\u03bc\u03b5 \u03cc\u03c4\u03b9 \u00ab\u0397 \u03a4\u03b5\u03c7\u03bd\u03b7\u03c4\u03ae \u039d\u03bf\u03b7\u03bc\u03bf\u03c3\u03cd\u03bd\u03b7 \u03b1\u03c0\u03bf\u03c4\u03b5\u03bb\u03b5\u03af \u03c0\u03bb\u03ad\u03bf\u03bd \u03bc\u03b9\u03b1 \u03c6\u03bf\u03cd\u03c3\u03ba\u03b1 \u03c7\u03c1\u03ad\u03bf\u03c5\u03c2, \u03be\u03b5\u03c0\u03b5\u03c1\u03bd\u03ce\u03bd\u03c4\u03b1\u03c2 \u03b1\u03b8\u03cc\u03c1\u03c5\u03b2\u03b1 \u03b1\u03ba\u03cc\u03bc\u03b7 \u03ba\u03b1\u03b9 \u03c4\u03b9\u03c2 \u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b5\u03c2\u00bb, \u03ba\u03b1\u03b9 \u03c0\u03b9\u03bf \u03c0\u03c1\u03cc\u03c3\u03c6\u03b1\u03c4\u03b1 \u03c0\u03c1\u03b9\u03bd \u03b1\u03c0\u03cc \u03b4\u03cd\u03bf \u03b5\u03b2\u03b4\u03bf\u03bc\u03ac\u03b4\u03b5\u03c2, \u03cc\u03c4\u03b1\u03bd \u03c0\u03b1\u03c1\u03bf\u03c5\u03c3\u03b9\u03ac\u03c3\u03b1\u03bc\u03b5 \u03c4\u03b7 \u03bc\u03b5\u03bb\u03ad\u03c4\u03b7 \u00ab\u0397 \u03b2\u03cc\u03bc\u03b2\u03b1 \u03c4\u03c9\u03bd 1,8 \u03c4\u03c1\u03b9\u03c3. \u03b4\u03bf\u03bb\u03b1\u03c1\u03af\u03c9\u03bd \u03b5\u03ba\u03c4\u03cc\u03c2 \u03b9\u03c3\u03bf\u03bb\u03bf\u03b3\u03b9\u03c3\u03bc\u03bf\u03cd \u03c3\u03c4\u03b7\u03bd \u03ba\u03b1\u03c1\u03b4\u03b9\u03ac \u03c4\u03bf\u03c5 \u03c5\u03c0\u03b5\u03c1\u03ba\u03cd\u03ba\u03bb\u03bf\u03c5 \u03c4\u03b7\u03c2 AI\u00bb, \u03bf\u03b9 \u03bf\u03bc\u03bf\u03bb\u03bf\u03b3\u03b9\u03bf\u03cd\u03c7\u03bf\u03b9 \u03ad\u03c7\u03bf\u03c5\u03bd \u03ba\u03b1\u03c4\u03b1\u03ba\u03bb\u03c5\u03c3\u03c4\u03b5\u03af \u03c6\u03ad\u03c4\u03bf\u03c2 \u03b1\u03c0\u03cc \u03c4\u03b5\u03c1\u03ac\u03c3\u03c4\u03b9\u03b5\u03c2 \u03b5\u03ba\u03b4\u03cc\u03c3\u03b5\u03b9\u03c2 \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03b1\u03c0\u03cc \u03c4\u03bf\u03c5\u03c2 hyperscalers, \u03ba\u03b1\u03b8\u03ce\u03c2 \u03bf\u03b9 \u03c4\u03b5\u03c7\u03bd\u03bf\u03bb\u03bf\u03b3\u03b9\u03ba\u03bf\u03af \u03ba\u03bf\u03bb\u03bf\u03c3\u03c3\u03bf\u03af \u03c3\u03c0\u03b5\u03cd\u03b4\u03bf\u03c5\u03bd \u03bd\u03b1 \u03b1\u03bd\u03c4\u03bb\u03ae\u03c3\u03bf\u03c5\u03bd<\/strong> \u03b4\u03b9\u03c3\u03b5\u03ba\u03b1\u03c4\u03bf\u03bc\u03bc\u03cd\u03c1\u03b9\u03b1 \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1 \u03b3\u03b9\u03b1 \u03c4\u03b7 \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03bf\u03b4\u03cc\u03c4\u03b7\u03c3\u03b7 \u03ad\u03c1\u03b3\u03c9\u03bd \u03c4\u03b5\u03c7\u03bd\u03b7\u03c4\u03ae\u03c2 \u03bd\u03bf\u03b7\u03bc\u03bf\u03c3\u03cd\u03bd\u03b7\u03c2 (\u03bc\u03b5 \u03b1\u03c0\u03bb\u03ac \u03bb\u03cc\u03b3\u03b9\u03b1: \u03b3\u03b9\u03b1 \u03bd\u03b1 \u03c0\u03bb\u03b7\u03c1\u03c9\u03b8\u03bf\u03cd\u03bd \u03b5\u03be\u03c9\u03c6\u03c1\u03b5\u03bd\u03b9\u03ba\u03ad\u03c2 \u03c4\u03b9\u03bc\u03ad\u03c2 \u03c3\u03c4\u03bf\u03c5\u03c2 \u03ba\u03b1\u03c4\u03b1\u03c3\u03ba\u03b5\u03c5\u03b1\u03c3\u03c4\u03ad\u03c2 chips \u03bc\u03bd\u03ae\u03bc\u03b7\u03c2 \u03b3\u03b9\u03b1 \u03ad\u03bd\u03b1 \u03bf\u03c5\u03c3\u03b9\u03b1\u03c3\u03c4\u03b9\u03ba\u03cc \u03b5\u03bc\u03c0\u03bf\u03c1\u03b5\u03c5\u03bc\u03b1\u03c4\u03bf\u03c0\u03bf\u03b9\u03b7\u03bc\u03ad\u03bd\u03bf \u03c0\u03c1\u03bf\u03ca\u03cc\u03bd).<br \/> \u03a3\u03cd\u03bc\u03c6\u03c9\u03bd\u03b1 \u03bc\u03b5 \u03c5\u03c0\u03bf\u03bb\u03bf\u03b3\u03b9\u03c3\u03bc\u03bf\u03cd\u03c2 \u03c4\u03bf\u03c5 Bloomberg, \u03bf\u03b9 \u03b5\u03ba\u03b4\u03cc\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b9\u03ba\u03ce\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c5\u03c8\u03b7\u03bb\u03ae\u03c2 \u03c0\u03b9\u03c3\u03c4\u03bf\u03bb\u03b7\u03c0\u03c4\u03b9\u03ba\u03ae\u03c2 \u03b4\u03b9\u03b1\u03b2\u03ac\u03b8\u03bc\u03b9\u03c3\u03b7\u03c2 \u03c3\u03c4\u03b9\u03c2 \u0397\u03a0\u0391 \u03b5\u03af\u03c7\u03b1\u03bd \u03c6\u03b8\u03ac\u03c3\u03b5\u03b9 \u03ad\u03c9\u03c2 \u03c4\u03b7\u03bd \u03a4\u03b5\u03c4\u03ac\u03c1\u03c4\u03b7 \u03c4\u03b1 180 \u03b4\u03b9\u03c3. \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1, \u03ba\u03b1\u03c4\u03b1\u03b3\u03c1\u03ac\u03c6\u03bf\u03bd\u03c4\u03b1\u03c2 \u03bd\u03ad\u03bf \u03b9\u03c3\u03c4\u03bf\u03c1\u03b9\u03ba\u03cc \u03c1\u03b5\u03ba\u03cc\u03c1 \u03b3\u03b9\u03b1 \u03c4\u03bf\u03bd \u03bc\u03ae\u03bd\u03b1 \u0399\u03bf\u03cd\u03bd\u03b9\u03bf \u03ba\u03b1\u03b9 \u03be\u03b5\u03c0\u03b5\u03c1\u03bd\u03ce\u03bd\u03c4\u03b1\u03c2 \u03c4\u03b1 169 \u03b4\u03b9\u03c2. \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1 \u03c4\u03bf\u03c5 2020.<br \/> \u039f\u03b9 \u03b5\u03c3\u03c9\u03c4\u03b5\u03c1\u03b9\u03ba\u03bf\u03af \u03c5\u03c0\u03bf\u03bb\u03bf\u03b3\u03b9\u03c3\u03bc\u03bf\u03af \u03c4\u03b7\u03c2 Morgan Stanley \u03b5\u03af\u03bd\u03b1\u03b9 \u03b1\u03ba\u03cc\u03bc\u03b7 \u03c0\u03b9\u03bf \u03b5\u03bd\u03c4\u03c5\u03c0\u03c9\u03c3\u03b9\u03b1\u03ba\u03bf\u03af: \u03c3\u03cd\u03bc\u03c6\u03c9\u03bd\u03b1 \u03bc\u03b5 \u03c4\u03bf\u03bd \u03c4\u03b5\u03bb\u03b5\u03c5\u03c4\u03b1\u03af\u03bf Debt Financing Tracker \u03c4\u03b7\u03c2 \u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1\u03c2 (\u03b4\u03b9\u03b1\u03b8\u03ad\u03c3\u03b9\u03bc\u03bf \u03c3\u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b1\u03b3\u03b3\u03b5\u03bb\u03bc\u03b1\u03c4\u03af\u03b5\u03c2 \u03c3\u03c5\u03bd\u03b4\u03c1\u03bf\u03bc\u03b7\u03c4\u03ad\u03c2), \u03b1\u03c0\u03cc \u03c4\u03b9\u03c2 \u03b1\u03c1\u03c7\u03ad\u03c2 \u03c4\u03bf\u03c5 \u03ad\u03c4\u03bf\u03c5\u03c2 \u03ad\u03c7\u03bf\u03c5\u03bd \u03b5\u03ba\u03b4\u03bf\u03b8\u03b5\u03af \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03cd\u03c8\u03bf\u03c5\u03c2 236 \u03b4\u03b9\u03c3. \u03b4\u03bf\u03bb\u03b1\u03c1\u03af\u03c9\u03bd \u03c0\u03bf\u03c5 \u03c3\u03c5\u03bd\u03b4\u03ad\u03bf\u03bd\u03c4\u03b1\u03b9 \u03bc\u03b5 \u03c4\u03b7\u03bd AI, \u03c3\u03b7\u03bc\u03b5\u03b9\u03ce\u03bd\u03bf\u03bd\u03c4\u03b1\u03c2 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7 357% \u03c3\u03b5 \u03c3\u03c7\u03ad\u03c3\u03b7 \u03bc\u03b5 \u03c4\u03b7\u03bd \u03b1\u03bd\u03c4\u03af\u03c3\u03c4\u03bf\u03b9\u03c7\u03b7 \u03c0\u03b5\u03c1\u03af\u03bf\u03b4\u03bf \u03c0\u03ad\u03c1\u03c5\u03c3\u03b9.<br \/> \u039c\u03ad\u03c7\u03c1\u03b9 \u03c4\u03bf \u03c4\u03ad\u03bb\u03bf\u03c2 \u03c4\u03bf\u03c5 \u03ad\u03c4\u03bf\u03c5\u03c2, \u03b7 Morgan Stanley \u03b5\u03ba\u03c4\u03b9\u03bc\u03ac \u03cc\u03c4\u03b9 \u03c4\u03bf \u03c0\u03bf\u03c3\u03cc \u03b1\u03c5\u03c4\u03cc \u03b8\u03b1 \u03c5\u03c0\u03b5\u03c1\u03b4\u03b9\u03c0\u03bb\u03b1\u03c3\u03b9\u03b1\u03c3\u03c4\u03b5\u03af, \u03c6\u03b8\u03ac\u03bd\u03bf\u03bd\u03c4\u03b1\u03c2 \u03c4\u03b1 570 \u03b4\u03b9\u03c2. \u03b4\u03bf\u03bb\u03ac\u03c1\u03b9\u03b1. <br \/><img decoding=\"async\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/inline-images\/MS%20debt%201_1.jpg?itok=LoUy2x6X\" alt=\"\" \/><br \/> \u0391\u03ba\u03cc\u03bc\u03b1 \u03c0\u03b9\u03bf \u03b5\u03bd\u03c4\u03c5\u03c0\u03c9\u03c3\u03b9\u03b1\u03ba\u03ae \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03ad\u03ba\u03b2\u03b1\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b1\u03ba\u03b1\u03b8\u03ac\u03c1\u03b9\u03c3\u03c4\u03b7\u03c2 \u03bc\u03cc\u03c7\u03bb\u03b5\u03c5\u03c3\u03b7\u03c2 (gross leverage) \u03c4\u03c9\u03bd hyperscalers, \u03b7 \u03bf\u03c0\u03bf\u03af\u03b1 \u03b1\u03c5\u03be\u03ae\u03b8\u03b7\u03ba\u03b5 \u03b1\u03c0\u03cc 0,9 \u03c6\u03bf\u03c1\u03ad\u03c2 \u03c4\u03bf \u03c4\u03c1\u03af\u03c4\u03bf \u03c4\u03c1\u03af\u03bc\u03b7\u03bd\u03bf \u03c4\u03bf\u03c5 2025 \u03c3\u03b5 1,8 \u03c6\u03bf\u03c1\u03ad\u03c2 \u03c3\u03ae\u03bc\u03b5\u03c1\u03b1, \u03b4\u03b7\u03bb\u03b1\u03b4\u03ae \u03b4\u03b9\u03c0\u03bb\u03b1\u03c3\u03b9\u03ac\u03c3\u03c4\u03b7\u03ba\u03b5 \u03bc\u03ad\u03c3\u03b1 \u03c3\u03b5 \u03bb\u03af\u03b3\u03bf \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03bf \u03b1\u03c0\u03cc \u03b4\u03cd\u03bf \u03c4\u03c1\u03af\u03bc\u03b7\u03bd\u03b1, \u03be\u03b5\u03c0\u03b5\u03c1\u03bd\u03ce\u03bd\u03c4\u03b1\u03c2 \u03b1\u03ba\u03cc\u03bc\u03b7 \u03ba\u03b1\u03b9 \u03c4\u03b7 \u03bc\u03b5\u03b3\u03ac\u03bb\u03b7 \u03b1\u03ba\u03b1\u03b8\u03ac\u03c1\u03b9\u03c3\u03c4\u03b7. \u03bc\u03cc\u03c7\u03bb\u03b5\u03c5\u03c3\u03b7 \u03c4\u03bf\u03c5 \u03b5\u03bd\u03b5\u03c1\u03b3\u03b5\u03b9\u03b1\u03ba\u03bf\u03cd \u03ba\u03bb\u03ac\u03b4\u03bf\u03c5.<br \/> \u039c\u03b5 \u03c4\u03bf\u03bd \u03c3\u03b7\u03bc\u03b5\u03c1\u03b9\u03bd\u03cc \u03c1\u03c5\u03b8\u03bc\u03cc, \u03c4\u03bf \u03c7\u03c1\u03ad\u03bf\u03c2 \u03c4\u03c9\u03bd hyperscalers \u03ba\u03b1\u03c4\u03ac \u03c0\u03b5\u03c1\u03af\u03c0\u03bf\u03c5 0,3 \u03c6\u03bf\u03c1\u03ad\u03c2 \u03b1\u03bd\u03ac \u03c4\u03c1\u03af\u03bc\u03b7\u03bd\u03bf. <br \/><img decoding=\"async\" src=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/hyperscaler%20leverage%20increase_3.jpg?itok=yFwTKAtW\" alt=\"\" \/><br \/> \u0395\u03c0\u03b9\u03b2\u03b5\u03b2\u03b1\u03b9\u03ce\u03bd\u03bf\u03bd\u03c4\u03b1\u03c2 \u03c4\u03b7\u03bd \u03c0\u03b1\u03c1\u03ac\u03b8\u03b5\u03c3\u03b7 \u03c4\u03bf\u03c5 Bloomberg \u03cc\u03c4\u03b9 \u03bf \u03c0\u03c5\u03c1\u03b5\u03c4\u03cc\u03c2 \u03b4\u03b1\u03bd\u03b5\u03b9\u03c3\u03bc\u03cc\u03c2 \u03b1\u03c1\u03c7\u03af\u03b6\u03b5\u03b9 \u03bd\u03b1 \u03b5\u03c0\u03b9\u03b2\u03b1\u03c1\u03cd\u03bd\u03b5\u03b9 \u03c4\u03b1 spreads \u03c4\u03c9\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b9\u03ba\u03ce\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd, \u03bf\u03b4\u03b7\u03b3\u03ce\u03bd\u03c4\u03b1\u03c2 \u03c4\u03b1 \u03bc\u03ad\u03c3\u03b1 \u03b1\u03c3\u03c6\u03ac\u03bb\u03b5\u03b9\u03b1\u03c2 \u03ba\u03b9\u03bd\u03b4\u03cd\u03bd\u03bf\u03c5 \u03c4\u03c9\u03bd \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03c9\u03bd \u03c5\u03c8\u03b7\u03bb\u03ae\u03c2 \u03c0\u03b9\u03c3\u03c4\u03bf\u03bb\u03b7\u03c0\u03c4\u03b9\u03ba\u03ae\u03c2 \u03b4\u03b9\u03b1\u03b2\u03ac\u03b8\u03bc\u03b9\u03c3\u03b7\u03c2 \u03b5\u03ba\u03c4\u03cc\u03c2 \u03c4\u03c9\u03bd \u03b9\u03c3\u03c4\u03bf\u03c1\u03b9\u03ba\u03ce\u03bd \u03c3\u03c4\u03b5\u03bd\u03bf\u03cd \u03b5\u03cd\u03c1\u03bf\u03c5\u03c2 \u03c4\u03bf\u03c5\u03c2, \u03b7 <strong>Morgan<\/strong> <strong>Stanley<\/strong> \u03c3\u03b7\u03bc\u03b5\u03b9\u03ce\u03bd\u03b5\u03b9 \u03cc\u03c4\u03b9 \u03c4\u03b1 spreads \u03c4\u03c9\u03bd hyperscalers \u03b4\u03b9\u03b5\u03c5\u03c1\u03cd\u03bd\u03bf\u03bd\u03c4\u03b1\u03b9.<br \/> \u0395\u03bd\u03ce \u03b3\u03b9\u03b1 \u03bc\u03b5\u03b3\u03ac\u03bb\u03bf \u03bc\u03ad\u03c1\u03bf\u03c2 \u03c4\u03bf\u03c5 2025 \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03bf\u03bd\u03c4\u03b1\u03bd \u03c3\u03b5 \u03c3\u03cd\u03b3\u03ba\u03c1\u03b9\u03c3\u03b7 \u03bc\u03b5 \u03c4\u03b9\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b5\u03c2 \u03bc\u03b5 \u03b4\u03b9\u03b1\u03b2\u03ac\u03b8\u03bc\u03b9\u03c3\u03b7 AA, \u03c0\u03bb\u03ad\u03bf\u03bd \u03ba\u03b9\u03bd\u03bf\u03cd\u03bd\u03c4\u03b1\u03b9 \u03ba\u03bf\u03bd\u03c4\u03ac \u03c3\u03c4\u03b1 \u03b5\u03c0\u03af\u03c0\u03b5\u03b4\u03b1 \u03c4\u03c9\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03b9\u03ce\u03bd \u03b1\u03be\u03b9\u03bf\u03bb\u03cc\u03b3\u03b7\u03c3\u03b7\u03c2 A \u03ba\u03b1\u03b9, \u03cc\u03c0\u03c9\u03c2 \u03c0\u03c1\u03bf\u03b5\u03b9\u03b4\u03bf\u03c0\u03bf\u03b9\u03b5\u03af \u03b7 \u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1, \u00ab\u03b5\u03bd\u03b4\u03ad\u03c7\u03b5\u03c4\u03b1\u03b9 \u03bd\u03b1 \u03b4\u03b9\u03b5\u03c5\u03c1\u03c5\u03bd\u03b8\u03b5\u03af \u03b1\u03ba\u03cc\u03bc\u03b7 \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03bf \u03bb\u03cc\u03b3\u03c9 \u03c4\u03b7\u03c2 <strong>\u03b1\u03c5\u03be\u03b7\u03bc\u03ad\u03bd\u03b7\u03c2<\/strong> \u03c0\u03c1\u03bf\u03c3\u03c6\u03bf\u03c1\u03ac\u03c2\u00bb.<br \/> \u039a\u03b1\u03b9 \u03b4\u03b5\u03bd \u03c0\u03c1\u03cc\u03ba\u03b5\u03b9\u03c4\u03b1\u03b9 \u03bc\u03cc\u03bd\u03bf \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd Oracle: \u03c0\u03bb\u03ad\u03bf\u03bd \u03b1\u03ba\u03cc\u03bc\u03b7 \u03ba\u03b1\u03b9 \u03b7 Meta \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03b5\u03c4\u03b1\u03b9 \u03bc\u03b5 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b1 spreads \u03b1\u03c0\u03cc \u03c4\u03bf\u03bd \u03b4\u03b5\u03af\u03ba\u03c4\u03b7 CDX IG.<br \/> \/><br \/> \u0394\u03b5\u03bd \u03c0\u03c1\u03bf\u03ba\u03b1\u03bb\u03b5\u03af \u03ad\u03ba\u03c0\u03bb\u03b7\u03be\u03b7, \u03bb\u03bf\u03b9\u03c0\u03cc\u03bd, \u03cc\u03c4\u03b9 \u03c4\u03bf Bloomberg \u03b1\u03bd\u03ad\u03c6\u03b5\u03c1\u03b5 \u03bd\u03c9\u03c1\u03af\u03c4\u03b5\u03c1\u03b1 \u03b1\u03c5\u03c4\u03ae \u03c4\u03b7\u03bd \u03b5\u03b2\u03b4\u03bf\u03bc\u03ac\u03b4\u03b1 \u03cc\u03c0\u03c9\u03c2 \u03b7 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7 \u03b6\u03ae\u03c4\u03b7\u03c3\u03b7 \u03b3\u03b9\u03b1 \u03c4\u03bf\u03c5\u03c2 \u03bf\u03bc\u03bf\u03bb\u03cc\u03b3\u03bf\u03c5\u03c2 \u03c4\u03b7\u03c2 SpaceX \u03ba\u03b1\u03c4\u03b1\u03b3\u03c1\u03ac\u03c6\u03b7\u03ba\u03b5 \u03c3\u03c4\u03b1 \u03c0\u03b5\u03bd\u03c4\u03b1\u03b5\u03c4\u03ae \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1, \u03b4\u03b7\u03bb\u03b1\u03b4\u03ae \u03c3\u03c4\u03bf \u03c4\u03bc\u03ae\u03bc\u03b1 \u03c4\u03b7\u03c2 \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7\u03c2 \u03bc\u03b5 \u03c4\u03b7 \u03bc\u03b9\u03ba\u03c1\u03cc\u03c4\u03b5\u03c1\u03b7 \u03b4\u03b9\u03ac\u03c1\u03ba\u03b5\u03b9\u03b1, \u03b3\u03b5\u03b3\u03bf\u03bd\u03cc\u03c2 \u03c0\u03bf\u03c5 \u03b5\u03c0\u03ad\u03c4\u03c1\u03b5\u03c8\u03b5 \u03c3\u03c4\u03b7\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03bd\u03b1 \u03bc\u03b5\u03b9\u03ce\u03c3\u03b5\u03b9 \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03bf \u03c4\u03bf \u03ba\u03cc\u03c3\u03c4\u03bf\u03c2 \u03b4\u03b1\u03bd\u03b5\u03b9\u03c3\u03bc\u03bf\u03cd \u03c3\u03b5 \u03b1\u03c5\u03c4\u03ae \u03c4\u03b7\u03bd \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1 \u03c3\u03b5 \u03c3\u03c7\u03ad\u03c3\u03b7 \u03bc\u03b5 \u03c4\u03b9\u03c2 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b5\u03c2 \u03b4\u03b9\u03b1\u03c6\u03bf\u03c1\u03ad\u03c2.<br \/> \u0391\u03bd\u03c4\u03af\u03b8\u03b5\u03c4\u03b1, \u03c4\u03bf \u03b5\u03bd\u03b4\u03b9\u03b1\u03c6\u03ad\u03c1\u03bf\u03bd \u03b3\u03b9\u03b1 \u03c4\u03b1 20\u03b5\u03c4\u03ae \u03ba\u03b1\u03b9 30\u03b5\u03c4\u03ae \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03ae\u03c4\u03b1\u03bd \u03b1\u03b9\u03c3\u03b8\u03b7\u03c4\u03ac \u03b1\u03c3\u03b8\u03b5\u03bd\u03ad\u03c3\u03c4\u03b5\u03c1\u03bf, \u03bc\u03b5 \u03c4\u03b7 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7 \u03c5\u03c0\u03bf\u03c7\u03ce\u03c1\u03b7\u03c3\u03b7 \u03c3\u03c4\u03b7 \u03b6\u03ae\u03c4\u03b7\u03c3\u03b7.<br \/> \u0395\u03b9\u03c1\u03c9\u03bd\u03b9\u03ba\u03ac, \u03cc\u03bc\u03c9\u03c2, \u03b1\u03ba\u03c1\u03b9\u03b2\u03ce\u03c2 \u03c3\u03b5 \u03b1\u03c5\u03c4\u03ad\u03c2 \u03c4\u03b9\u03c2 \u03c0\u03bf\u03bb\u03cd \u03bc\u03b1\u03ba\u03c1\u03b9\u03bd\u03ad\u03c2 \u03bb\u03ae\u03be\u03b5\u03b9\u03c2 \u03b2\u03c1\u03af\u03c3\u03ba\u03b5\u03c4\u03b1\u03b9 \u03c3\u03c5\u03b3\u03ba\u03b5\u03bd\u03c4\u03c1\u03c9\u03bc\u03ad\u03bd\u03bf \u03c4\u03bf \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03bf \u03bc\u03ad\u03c1\u03bf\u03c2 \u03c4\u03b7\u03c2 \u03c5\u03c0\u03bf\u03c4\u03b9\u03b8\u03ad\u03bc\u03b5\u03bd\u03b7\u03c2 \u00ab\u03b1\u03be\u03af\u03b1\u03c2 \u03b3\u03b9\u03b1 \u03c4\u03bf\u03c5\u03c2 \u03bc\u03b5\u03c4\u03cc\u03c7\u03bf\u03c5\u03c2\u00bb, \u03b2\u03b1\u03b8\u03b9\u03ac \u03c3\u03c4\u03bf \u03bc\u03ad\u03bb\u03bb\u03bf\u03bd, \u03cc\u03c4\u03b1\u03bd \u03b7 SpaceX \u03c5\u03c0\u03bf\u03c4\u03af\u03b8\u03b5\u03c4\u03b1\u03b9 \u03cc\u03c4\u03b9 \u03b8\u03b1 \u03b1\u03c0\u03bf\u03b9\u03ba\u03af\u03c3\u03b5\u03b9 \u03c4\u03b7\u03bd \u0386\u03c1\u03b7, \u03b8\u03b1 \u03c4\u03b1\u03be\u03b9\u03b4\u03b5\u03cd\u03b5\u03b9 \u03bc\u03ad\u03c3\u03b1 \u03b1\u03c0\u03cc \u03c3\u03ba\u03bf\u03c5\u03bb\u03b7\u03ba\u03cc\u03c4\u03c1\u03c5\u03c0\u03b5\u03c2 (wormholes) \u03ba\u03b1\u03b9 \u03b8\u03b1 \u03c0\u03b5\u03c4\u03cd\u03c7\u03b5\u03b9. EBITDA \u03ac\u03bd\u03c9 \u03c4\u03bf\u03c5 1 \u03c4\u03c1\u03b9\u03c3. \u03b4\u03bf\u03bb\u03b1\u03c1\u03af\u03c9\u03bd \u2014 \u03ae \u03ba\u03ac\u03c4\u03b9 \u03b1\u03bd\u03c4\u03af\u03c3\u03c4\u03bf\u03b9\u03c7\u03bf \u03c6\u03b9\u03bb\u03cc\u03b4\u03bf\u03be\u03bf.<br \/> <strong>\u03a4\u03b1 \u03bc\u03b1\u03ba\u03c1\u03bf\u03c0\u03c1\u03cc\u03b8\u03b5\u03c3\u03bc\u03b1 \u03bf\u03bc\u03cc\u03bb\u03bf\u03b3\u03b1 \u03c4\u03b7\u03c2 SpaceX \u03c3\u03c5\u03bd\u03b5\u03c7\u03af\u03b6\u03bf\u03c5\u03bd \u03bd\u03b1 \u03b2\u03bb\u03ad\u03c0\u03bf\u03c5\u03bd \u03c4\u03b1 spreads \u03c4\u03bf\u03c5\u03c2 \u03bd\u03b1 \u03b4\u03b9\u03b5\u03c5\u03c1\u03cd\u03bd\u03bf\u03bd\u03c4\u03b1\u03b9, \u03c0\u03b1\u03c1\u03ac \u00ab\u03c4\u03bf\u03bd \u03b1\u03c1\u03c7\u03b9\u03ba\u03cc \u03b5\u03bd\u03b8\u03bf\u03c5\u03c3\u03b9\u03b1\u03c3\u03bc\u03cc \u03ba\u03b1\u03b9 \u03c4\u03b7 \u03b6\u03ae\u03c4\u03b7\u03c3\u03b7\u00bb, \u03ba\u03b1\u03b8\u03ce\u03c2 \u03bf\u03b9 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\u03ad\u03b3\u03c1\u03b1\u03c8\u03b5 \u03c3\u03b5 \u03c3\u03b7\u03bc\u03b5\u03af\u03c9\u03bc\u03b1 \u03c4\u03bf\u03c5 \u03bf Mark Dowding, \u03b5\u03c0\u03b9\u03ba\u03b5\u03c6\u03b1\u03bb\u03ae\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd \u03c3\u03c4\u03b1\u03b8\u03b5\u03c1\u03bf\u03cd \u03b5\u03b9\u03c3\u03bf\u03b4\u03ae\u03bc\u03b1\u03c4\u03bf\u03c2 (CIO Fixed Income) \u03c4\u03b7\u03c2 RBC BlueBay Asset Management.<\/strong><br \/> \u039f Mark \u03c0\u03b9\u03b8\u03b1\u03bd\u03cc\u03c4\u03b1\u03c4\u03b1 \u03ad\u03c7\u03b5\u03b9 \u03b4\u03af\u03ba\u03b9\u03bf \u03ba\u03b1\u03b9 \u03b5\u03ba\u03c4\u03b9\u03bc\u03ac \u03cc\u03c4\u03b9 \u03c4\u03cc\u03c3\u03bf \u03b7 SpaceX \u03cc\u03c3\u03bf \u03ba\u03b1\u03b9 \u03ac\u03bb\u03bb\u03b5\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ae\u03c2 \u03b2\u03b1\u03b8\u03bc\u03af\u03b4\u03b1\u03c2 (Investment Grade &#8211; IG) \u03b8\u03b1 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\u03a4\u03cc\u03c4\u03b5 \u03bf \u03ba\u03cd\u03ba\u03bb\u03bf\u03c2 \u03bf\u03cd\u03c4\u03b5 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 (capex cycle) \u03b8\u03b1 \u03c4\u03b5\u03c1\u03bc\u03b1\u03c4\u03b9\u03c3\u03c4\u03b5\u03af, \u03ba\u03b1\u03b8\u03ce\u03c2 \u03b4\u03b5\u03bd \u03c5\u03c0\u03ac\u03c1\u03c7\u03bf\u03c5\u03bd \u03c0\u03bb\u03ad\u03bf\u03bd \u03bf\u03cd\u03c4\u03b5 \u03b5\u03bb\u03b5\u03cd\u03b8\u03b5\u03c1\u03b5\u03c2 \u03c4\u03b1\u03bc\u03b5\u03b9\u03b1\u03ba\u03ad\u03c2 \u03c1\u03bf\u03ad\u03c2 \u03b7 \u03b4\u03c5\u03bd\u03b1\u03c4\u03cc\u03c4\u03b7\u03c4\u03b1 \u03bd\u03ad\u03bf\u03c5 \u03b4\u03b1\u03bd\u03b5\u03b9\u03c3\u03bc\u03bf\u03cd.<\/p><p> www.bankingnews.gr<\/p><\/div><p><\/p>","protected":false},"excerpt":{"rendered":"<p>\u039f\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03ad\u03c7\u03b1\u03c3\u03b1\u03bd 400 \u03b5\u03ba\u03b1\u03c4. \u03c3\u03b5 48 \u03ce\u03c1\u03b5\u03c2\u2026 \u200b \u039f\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03ad\u03c7\u03b1\u03c3\u03b1\u03bd 400 \u03b5\u03ba\u03b1\u03c4. \u03c3\u03b5 48 \u03ce\u03c1\u03b5\u03c2\u2026 \u0394 \u03b7\u03bc\u03bf\u03c3\u03b9\u03b5\u03cd\u03bc\u03b1\u03c4\u03b1 \u03b1\u03c0\u03b5\u03ba\u03ac\u03bb\u03c5\u03c0\u03c4\u03b1\u03bd [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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