Bond Giant Positions for AI Bubble Burst: Buys Credit Debt to Weather Deep Cycle
June 7. DoubleLine Capital and Oaktree Capital are positioning themselves ahead of a potential AI bubble burst with a strategy of selectively picking bonds that can weather a deep credit cycle.
Robert Cohen, DoubleLine Capital’s fund manager, told the Bloomberg Global Credit Forum that an AI bubble is almost certain to burst—putting the probability at around 100%. He argues that as tech companies keep pouring massive amounts of capital into the space, the market will inevitably hit bubble territory in the coming months or years. Cohen defines a credit bubble as investors financing companies that need actual growth to pay off their debt, a path that has historically killed off tech booms. As such, he recommends targeting companies that can survive via structural safeguards or strong balance sheets, rather than betting on future growth projections.
The AI industry’s leverage has expanded at an unprecedented pace. According to Barclays, U.S. mega-cap tech firms have issued over $155
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Analysis: S&P 500 Friday Sell-off Factor Cleared, Market Awaits Monday Buying Interest to See if Market Structure Can Be Rebuilt
June 7 – Former hedge fund analyst Alphatica outlined in their weekend market outlook that the SPDR S&P 500 ETF Trust (SPY) closed Friday at $737.55, a 2.6% single-day drop. Friday’s options expiration cleared the core catalyst behind the concentrated sell-off: the massive negative gamma at the $740 strike, which had reached -$8.71 billion, has now reset to zero. Total negative Gamma Exposure (GEX)—a metric tracking how market maker hedging activity amplifies or dampens volatility—has fallen from an intraday peak of -$18.47 billion to -$8.68 billion, meaning the most intense selling pressure has faded. The market has shifted from aggressive, concentrated selling to more dispersed pressure.
Multiple key indicators turned bearish for the first time: the composite score dipped into bearish territory at -22.9, while implied volatility (IV) skewness hit +5.35%—the highest level in this cycle. Put options now carry a significant premium, with 65% of that premium tied to puts. Single-day put
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Joseph Lubin mortgaged 412,430 ETH to borrow 259 million DAI, with a Loan-to-Value (LTV) ratio dropping below 1.2 temporarily.
June 7th: On-chain analyst Ai Auntie (Twitter handle @ai_9684xtpa) reports that three addresses linked to Ethereum co-founder Joseph Lubin are collectively holding 412,430 ETH as collateral—valued at $6.53 billion—while borrowing 259 million DAI. Their loan-to-value (LTV) ratio fell below 1.2 yesterday, putting these accounts at risk of liquidation. However, the chance of this address cluster being liquidated is extremely low. Lubin, who acquired 540,000 ETH via the 2015 ICO for just $0.31 per token, is referred to as a "Cash Reservist." During yesterday’s ETH price dip, he added 110,000 ETH to his collateral, pushing the account’s health factor back above 1.48 and drastically cutting the risk of liquidation.
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Hex Trust's affiliate entity accumulates 182 million H tokens, with a total value of $121 million
June 7 — On-chain analyst Auntie AI (@ai_9684xtpa) reports that an entity affiliated with Hex Trust has once again added H tokens worth $13.01 million to its holdings, bringing its total stake to 6.42% of H’s circulating supply. Over the past 20 hours, 19.84 million H tokens were withdrawn from major crypto exchanges. In the last two days, the entity has accumulated a total of 182 million H tokens, valued at approximately $121 million.
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「Stock God」 Serenity Explains the Glass Substrate Battle: SKC Supplies AMD, Samsung Electro-Mechanics Secures Apple, Broadcom
June 7th – Market analyst Serenity, widely known in trading circles as the "Stock God," today outlined the mass production timelines for key suppliers in the glass substrate sector, a critical component of advanced semiconductor packaging. SKC subsidiary Absolics is scheduled to launch mass production in the second half of 2026, in partnership with Applied Materials, with AMD named as its primary customer. Samsung Electro-Mechanics, meanwhile, is expected to kick off mass production in the second half of 2027, collaborating with Sumitomo Chemical, and its client base includes Apple, Broadcom, and major hyperscale cloud providers. Serenity noted that details regarding Intel’s planned 2030 mass production timeline remain unconfirmed.
Further, Serenity stated her earlier assessment of a 2–3 year window for TSMC’s CoWoS technology has been proven accurate, matching recent comments from TSMC’s chairman. She also highlighted recurring key players in the industry ecosystem: Innolux emerges a
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A certain Ethereum OG Whale is back, buying 35,723 ETH at an average price of $1,563 each.
June 7th, according to LookOnChain monitoring, an Ethereum OG whale who sold 60,000 ETH (worth $1.1725 billion) and 9,442 wstETH (valued at $24 million) at an average price of around $2,040 a week ago has re-entered the market to make purchases. Over the past two days, the whale has spent $55.8 million to acquire 35,723 ETH at an average cost of $1,563 per ETH.
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