AT&T $T Common stock soars to a 3 yr high while its credit defaults swaps rise by one third to about $1.1 million since December,

The annual cost of credit-default swaps on $100 million bonds of blue-chip telecommunications company AT&T has risen by one third to about $1.1 million since December, according to data from Markit. The company faces declining demand for its landline services even as the cellular telephone business grows increasingly competitive.

Source: Hedge Funds Bet on Risks in U.S. Blue-Chip Debt – WSJ