[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-628833-105":59,"doc-detail-628833-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","financialtimes-wed-21-october-2026-middle-east-edition","FINANCIALTIMES - Wed 21 October 2026 Middle East Edition","","Financial Times Middle East edition dated Wednesday 21 October 2026, featuring political and market coverage. The briefing includes Canada’s Alberta vote rejecting a separatist bid, and analysis on US-Russia and China’s industrial transition. Financial reporting highlights record highs in CDS trading volumes tied to AI infrastructure and corporate borrowing, with commentary from investors and strategists. Additional sections address derivatives protection costs, AI-linked debt issuance, and broader world-market context, plus European public-order updates.",{"@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-wed-21-october-2026-middle-east-edition/628833/",{"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-wed-21-october-2026-middle-east-edition/628833.png","ImageObject",300,407,{"name":92,"@type":93},"Adam","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-31","2026-10-21",true,{"@type":102,"interactionType":103,"userInteractionCount":19},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What major political result is reported from Alberta?","Question",{"text":112,"@type":113},"Voters in oil-rich Alberta overwhelmingly backed remaining part of Canada, with over 75% against holding a referendum on leaving. The supporters celebrated after the count progressed.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why are investors racing to buy credit default swaps (CDS)?",{"text":117,"@type":113},"CDS volumes and costs are rising as investors seek protection if the AI spending boom unravels. The coverage links demand to perceived risk concentration and uncertainty over companies’ profitability.",{"name":119,"@type":110,"acceptedAnswer":120},"How is the report connecting CDS demand to AI infrastructure borrowing?",{"text":121,"@type":113},"It states that AI-linked debt issuance has surged and that CDS is increasingly used to hedge AI exposure, including by bond investors and multi-asset equity speculators seeking cheaper hedges.","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},628833,1793052990,{"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":19,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":46,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":31},1374404737137,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","# FINANCIALTIMES\n\nWEDNESDAY 21 OCTOBER 2026  \nMIDDLE EAST  \nPutin has plenty of sympathisers in America  \nCan an ailing China avoid Japanification?  \nCanada voteAlbertarejectsseparatist bid  \nBriefing  \nSupporters of the Forever Canadiangroup in Edmonton,Alberta,celebrateyesterday after voters in the oil-richprovince overwhelmingly backedremaining partof Canada.  \nMerz defends landlords  \nMore than 75 per cent of voters inAlberta were against holdinga referen-dum on whether to leave Canada,while25 per cent voted in favour,with 80percent ofthe ballots counted.  \nPrime Minister Mark Carney,whowas raisedinEdmonton,had urged vot-ers in the final days of campaigning tostay in Canada and build a united frontagainst US President Donald Trump'sCanada,\"he said yesterday.  \n▶UKjets to assist Saudis  \nCarney,who was Bank of Englandgovernor during Britain's Brexit refer-endum in 2016,had warned Albertansthat many proponents who wanted toleave the EUnowregretted the decision.  \n▶Pensions chief attacks PE  \nAI debt nerves trigger race for defaultinsurance in case boom turns to bust  \nUS law firm expandsinUK  \n▶Bucharest ends impasse  \n◆$9bn of CDS traded per weeke Cost of protection hits recordoDerivatives famous for financial crisis  \nRAMSAY HODGSON—NEWYORK  \n\"CDS has become a key bellwether of where the risk is very concentrated,  \nstructureto OpenAIand Anthropicsuch  \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 portfoliosin the event that the AIboom unravels,In a sign of investor unease over thesending trading volumes surging for anborrowing binge,the cost of buying CDSinstrument that shot to prominenceon many AI-linked groups this monthduringtheglobalfinancial crisis.hit record highs.This so-called spreadThe wave of borrowing to financehas climbed not only for groups thattrillions ofdollars of AI infrastructureinvestors judge as riskier,such as AIspending is fuelling demand for thesecloud-computing provider CoreWeave,insurance-like derivatives,which paybut also forthose suchas Microsoft.out if the company they are tied to                 \ninvestor sentiment towards hyperscalerfunding and the broader AItrade,\"saidManish Kabra,head of US equity strat-egy at Societé Générale.\"The market isincreasingly focusedontwothings:CDSand free cash flow.\"  \nwhat you want to buy is CDS,\"said JimCaron,chief investment officer of theportfolio solutions group at MorganStanley Investment Management,add-ing that these swaps were also a \"cheaphedge”forinvestors.  \nas Oracle and Alphabet.  \nFive-year Meta CDS has this monthclimbed to 108 basis points,meaningitcosts $108,000 a year to insure $10mnof debt agains default,while deriva-tives tied to Nvidia have climbed to101bp.Protection against Alphabet andAmazondefault is also at recordhighs.  \nUS home sales slump  \nAl-linked debt issuance has rocketedwith companies raising an estimated$466bn so far thisyear,upfrom$101bnin the same period in 2025,accordingtoMorgan Stanley,to fund infrastructuresuch as datacentres andchips.  \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.\"Another par is multi-assetand equity speculators trying to find acheap hedge totheirtech exposure.”  \nBut while the price of some top techgroups'CDS is on the rise,it is still rela-tivelylow compared with spreads ontheAIcompanies investors deem riskier.  \nWhile the volume of borrowing hasslowed from its June peak,investorssaid the number of big borrowersexposed to AIrisk and fears over com-panies'ability to profit from AIinvest-ments was helping drive CDS demand.  \nOracle's CDS is now 322bp,up from144bpat the start of the year.The five-yearCDStied to CoreWeave debt is trad-ing at about 1,090bp,with demand sowould needto pay$1.82mn upfront.S","cbCaithyoEC3XgSA","https://ap.wps.com/l/cbCaithyoEC3XgSA","pdf",35571979,"English","# Briefing\n## Alberta vote and Canada unity\n## UK jets to assist Saudis\n## Pensions chief attacks PE\n## CDS and AI-linked borrowing analysis\n## Paris curfews and control reassertion","[{\"question\":\"What major political result is reported from Alberta?\",\"answer\":\"Voters in oil-rich Alberta overwhelmingly backed remaining part of Canada, with over 75% against holding a referendum on leaving. The supporters celebrated after the count progressed.\"},{\"question\":\"Why are investors racing to buy credit default swaps (CDS)?\",\"answer\":\"CDS volumes and costs are rising as investors seek protection if the AI spending boom unravels. The coverage links demand to perceived risk concentration and uncertainty over companies’ profitability.\"},{\"question\":\"How is the report connecting CDS demand to AI infrastructure borrowing?\",\"answer\":\"It states that AI-linked debt issuance has surged and that CDS is increasingly used to hedge AI exposure, including by bond investors and multi-asset equity speculators seeking cheaper hedges.\"}]","FINANCIALTIMES - Wed 21 October 2026 Middle East Edition | PDF",1792619014]