On Monday Oracle (ORCL.N) five-year credit-default swap spreads rose to about
203 bps — their highest level since end-2008 and above last Friday's 198.23 bps
peak, according to ICE Data Services. TRACE data showed broad weakness in the
company's bond curve: a heavily traded 6.7% 2056 issue widened roughly 8 bps to
263 bps, while a 5.7% 2036 bond widened about 9 bps to 205 bps. The moves,
accompanied by selling, reflect market doubt that Oracle's large AI investments
will produce sufficient returns.