ORCL CDS just hit a new record wide, as its 2056 bonds (Baa2/BBB-) yield 8% for the first time ever, and wide of B2/B average (7.5%). When ORCL is junked, $120BN bonds will get kicked out of IG indexes
One to watch is CDS volume for chips and hyperscalers is exploding as CAPEX spending soars.
Nice one in @dailychartbook yesterday.
Hyperscaler CDS = ORCL, META, AMZN, GOOGL, MSFT, SPCX
Chip CDS = AVGO, AMD, NVDA