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The Canada vote highlights Alberta’s rejection of a separatist bid, with leaders urging voters to stay within Canada. Additional sections examine credit-default swaps as indicators of investor sentiment toward AI hyperscalers, detailing surge in CDS volumes, rising protection costs, and hedging demand tied to default risk and AI infrastructure borrowing.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/financialtimes-can-an-ailing-china-avoid-japanification-canada-vote-alberta-rejects-separatist-bid/628838/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/financialtimes-can-an-ailing-china-avoid-japanification-canada-vote-alberta-rejects-separatist-bid/628838.png","ImageObject",300,407,{"name":92,"@type":93},"Pentious","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-01","2026-10-21",true,{"@type":102,"interactionType":103,"userInteractionCount":29},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What was the result of Alberta’s vote on leaving Canada?","Question",{"text":112,"@type":113},"Over 75% of voters in Alberta opposed holding a referendum on whether to leave Canada, while 25% voted in favour, with 80% of ballots counted.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How do credit-default swaps relate to investor sentiment toward AI funding?",{"text":117,"@type":113},"CDS prices and volumes are described as a bellwether for investor sentiment toward hyperscaler funding, with the market increasingly focused on CDS and free cash flow.",{"name":119,"@type":110,"acceptedAnswer":120},"Why has demand for CDS protection increased for AI-linked companies?",{"text":121,"@type":113},"Investors are racing to buy default protection as AI-linked borrowing and perceived risk rise, with hedging demand growing across bond investors and multi-asset/equity speculators.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},628838,1793143136,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":29,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":26},1374404730887,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","FINANCIALTIMES  \nWEDNESDAY 21 OCTOBER 2026  \nCan an ailing China avoid Japanification?  \nBewailing Thatcherism is not agrowth plan  \n# Canada voteAlberta rejectsseparatist bid\n\nBriefing  \nSupporters of the Forever Canadiangroup in Edmonton,Alberta,celebrateyesterday after voters in the oil-richprovince overwhelmingly backedremainingpartof Canada.  \nMore than 75 per cent of voters inAlberta were against holding areferen-dumon whether to leave Canada,while25per cent voted in favour,with 80 percentofth ballotscounted.  \nPrime Minister Mark Carney,whowas raisedin Edmonton,had urged vot-ers in the final days of campagning tostay in Canada and build aunited frontagainst US President Donald Trump'shostilities.\"Above all,Albertans choseCanada,\"he said yesterday.  \n▶French widen curfews  \nCarney,who was Bank of Englandgovernor during Britain's Brexit refer-endum in 2016,had warned Albertansthat many proponents who wanted toleave the EUnow regretted thedecision.Carney halls vote page8  \nJobs market stabilises  \nAI debt nerves trigger race for defaultinsurance in case boom turns to bust  \n▶UKjets to assist Saudis  \n◆$9bn of CDS traded per weekoCost of protection hits recordoDerivatives tainted by financial crisis  \nstructure toopenATandAnthropicsuchasOracle andAlphabet.  \nFive-year Meta CDS has this monthclimbed to 108 basis points,meaning itcosts $108,000 a year to insure $10mnof debt against default,while deriva-tives tied to Nvidia have climbed to101bp.Protection against Alphabet andAmazondefault is also at record highs.  \nMerz defendslandlords  \nBut while the price of some top techgroups'CDSis on the rise,it is still rela-tively lowcompared with spreads ontheAIcompanies investorsdeemriskier.  \nPensions chief attacks PE  \nOracle's CDS is now 322bp,up from144bpat the star of the year.The five-yearCDStiedto CoreWeave debt is trad-ing at about 1,090bp,with demand sohigh that abuyerof $10mnof protectionwould needto pay$1.82mn upfront.Spoils of boom&US dominance page 11  \nIt is a truth universallyacknowledged,that a single man inpossession of agoodfortune,must be inwant of a rare book.SHAPERORARE BOOKS  \n\"CDS has become a key bellwetherofinvestor sentiment towards hyperscalerfunding and the broader AItrade,\"saidManish Kabra,head of US equity strat-egy at Société Générale.\"Themarket isincreasingly focusedontwo things:CDSand free cash flow.\"  \nStanley Research.US corporate CDSindex trading volumes this year haveInvestors are racing to buy creditovertaken last year's total,according todefault swaps to protect their portfoliosBloomberg.in the event that the AI boom unravels,In a signof investor unease over thesending trading volumes surging for anborrowing binge,the cost ofbuying CDSinstrument that shot to prominenceon many AI-linked groups this monthduringtheglobal financial crisis.hit record highs.This so-called spreadThe wave of borrowing to financehas climbed not only for groups thattrillions of dollars of AI infrastructureinvestors judge as riskier,such as AIspending is fuelling demand for thesecloud-computing providerCoreWeave,insurance-like derivatives,which paybut alsofor those such as Microsoft.out if the company they are tied to               defaults onitsdebt.  \nwhere the risk is very concentrated,what you want to buy is CDS,\"said JimCaron,chief investment officer of theportfolio solutions group at MorganStanley Investmen Management,add-ing that these swaps were also a\"cheaphedge\"forinvestors.  \nAI-linked deb issuance has rocketedwith companies raising an estimated$466bn so far thisyear,upfrom $101bnin the same period in 2025,according toMorgan Stanley,to fund infrastructuresuchas datacentres andchips.While the volume of borrowing hasslowed from its June peak,investorssaid the number of big borrowers  \nTraditionally the reserve of purecredit investors,multi-asset and equitymanagers are increasingly using theseswaps as way to hedge AI exposure.\"One part [of demand]is a true bondinvestor looking to hedge their book,\"said Caron.\"Anoth","cbCaiairE0azX6uX","https://ap.wps.com/l/cbCaiairE0azX6uX","pdf",41285200,24,"English","# Briefing\n## Canada vote: Alberta rejects separatist bid\n## French widen curfews\n## Jobs market stabilises\n## UK jets to assist Saudis\n# Investors and CDS markets\n## Hyperscaler funding and AI-linked default risk\n## CDS volumes and hedging demand\n# City law firms\n## Sullivan doubles footprint in London office space","[{\"question\":\"What was the result of Alberta’s vote on leaving Canada?\",\"answer\":\"Over 75% of voters in Alberta opposed holding a referendum on whether to leave Canada, while 25% voted in favour, with 80% of ballots counted.\"},{\"question\":\"How do credit-default swaps relate to investor sentiment toward AI funding?\",\"answer\":\"CDS prices and volumes are described as a bellwether for investor sentiment toward hyperscaler funding, with the market increasingly focused on CDS and free cash flow.\"},{\"question\":\"Why has demand for CDS protection increased for AI-linked companies?\",\"answer\":\"Investors are racing to buy default protection as AI-linked borrowing and perceived risk rise, with hedging demand growing across bond investors and multi-asset/equity speculators.\"}]","FINANCIALTIMES - Can an ailing China avoid Japanification? - Canada vote: Alberta rejects separatist bid | PDF",1792619039]