Intel's Credit Risk Metric Hits Record High After Earnings Release

Odaily Report: The cost of insuring against a default on Intel (INTC.O) debt surged to an all-time high after the company warned that it expects net cash outflows this year due to weakness in the personal computer (PC) market. Markit data showed that the spread on Intel's five-year credit default swaps (CDS) widened by 17.5 basis points to a record 124.75 basis points and was on track for its biggest one-day increase since October 2022. (Jin10)