Markets imply nearly 63% chance of CoreWeave default in five years

Credit markets implied a nearly 63% chance CoreWeave defaults within five years, Reuters reported Oct. 15. Its 9.75% bond due 2031 yielded 15.78%, per CNBC, while default insurance cost about 1,000 basis points, per Reuters — $1,000 a year per $10,000 insured. I read this as price of fear, not a forecast.