Glencore CDS Are Soaring Again As Default Risk Rises Above 50%

``... the collapse of Glencore was one of the catalysts for the August/September market swoon; it was never fixed but because it stopped bleeding wider, the "experts" thought it was contained. Alas, it isn't, and now the market is about to have a rude second wake up call that the world's most important commodities trader - which may be downgraded to junk any minute - is also facing an all too real probability of bankruptcy unless commodity prices somehow surge in the coming months.''