The Hottest Deal for Commodity Traders: Buying Their Own Bonds
- Glencore turmoil propels yields to as high as 30 percent
- Trafigura, Louis Dreyfus and Noble Group bonds also hit
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Forget oil, copper and wheat. Commodities traders are crowing about the money to be made in the bond market.
On the cocktail party circuit at the industry’s LME Week earlier this month, at least a dozen traders and executives said that the surest profits these days was in debt issued by their employers and their very own rivals: Glencore Plc, Louis Dreyfus Commodities BV, Trafigura Pte Ltd. and Noble Group Ltd.