FT Alphaville, one of my favorite blog sites, has the latest on Glencore and its credit default swaps. They are exploding to the downside for firms issuing insurance against Glencore’s default. Here’s Alphaville’s chart:
I have written about this twice before – first in November (Glencore: A Swiss giant on the edge) and then again last month ( Glencore: credit default swaps suggest something amiss) – but have no news to add here.
See the Alphaville link below for what they have to say. But, with a chart like this, Glencore is definitely a company to watch. Comments from anyone who knows more are appreciated.
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Glencore: time to come clean