Glencore's "Investment Grade" Bonds Just Took Out September Crash Lows: Downgrade To Junk Imminent

Over the weekend GLEN CDS blew out to new post-crisis highs of 1,128 bps, nearly 7 times wider than the 170bps from March 2014, but more troubling is that Glencore's 2021 bonds just hit a 5 year low, taking out the September crash levels.