RT The Kobeissi Letter (@KobeissiLetter)Investors are hedging against corporate defaults at a record pace:Trading volume in the world's largest credit default swap (CDS) indexes surged +69% in Q1 2026, to $4.5 trillion, the highest on record.This exceeds the previous record set in Q2 2025 during the tariff turmoil by +36%.This is also +350% higher than the ~$1.0 trillion traded in Q4 2019, before the pandemic.The surge has been driven by the Iran War and growing concerns that AI could reshape entire industr ...