My morning train WFH reads: • SpaceX Bonds Are Trading Like Junk Bonds. What Does That Mean for Investors? BB-rated bonds are viewed as carrying a substantial credit risk for their holders. While investment-grade bonds have a historical default rate in the range of 0% to 1.02%, the default rate for BB-rated bonds has been about 4.22%, 4X higher than the riskiest investment-grade bonds. SpaceX carr...