Meta Is In Serious Trouble (And Wall Street Is Freaking Out)

Fears about what Meta just reported have spread into bonds, both selling and buying, producing a huge UST rally...and more. Facebook's parent unleashed chaos with more capex and negative cash flow. Meta shares dropped more than 6%. Its bonds weakened relative to Treasuries. The price of credit protection on the company jumped to a record.

And that was just the beginning of a big day in bond-land.