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#SaxoStrats - Shorting Glencore as China slump brings prices down

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Glencore may have seen its share price slump 60% in the last 12 months but the ongoing devastation of commodity prices on the back of weakening demand in China and Emerging Markets seems certain to keep that trend ongoing especially amid a global supply glut. 

Saxo Bank's Head of Equity Strategy Peter Garnry outlines why he's shorting Glencore shares, not just based on the gloomy commodity price but also on the company's balance sheet which is showing USD 44 billion debt against USD 28 billion market cap.