AI Bonds Stay Under Pressure

Pressure on CoreWeave bonds has been particularly acute. Its 9.25% bonds due in 2030 traded at around 90.6 cents on the dollar on Tuesday, down from 91.8 cents on Monday, according to MarketAxess. That translated to a yield premium, or spread, above ultrasafe Treasurys of 8.34 percentage points—up from 7.94 percentage points Monday.