4 Airdropped Tokens Won Big in Q2 Despite Market Volatility
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The three major U.S. stock index futures are mixed.
SEC approves 3x Bitcoin and Ether ETFs, BITH and ETHK set for launch
Banks retreat, bond discounts, and it's hard to borrow money for the AI construction boom
Discounted sales of high-yield bonds have become the new norm—among this year's $55 billion related bonds, the most recent four issuances were all at a discount; major banks such as Société Générale and Mitsubishi are adopting a more cautious approach; Oracle's force majeure event has further prompted lenders to tighten their terms. With $700 billion in capital expenditures from mega-tech companies competing for financing, combined with rising Treasury yields, the cost of funding for some projects is approaching the break-even point. Developers with lower ratings and less experience are being hit first.

Trading congestion! Bank of America warns: "Buy AI, sell consumer" strategies are increasingly difficult to generate excess returns
Active fund holdings have already fully reflected the theme of "consumption shifting to capital expenditure." It is becoming increasingly difficult to generate excess returns by buying beneficiaries of AI capital expenditure and selling white-collar consumption themes.
