Asia

Authored by Federico Pieraccini via The Stratgic Culture Foundation,

Once Asia's largest commodity trader, Noble Group has been halted after crashing almost 30% this morning following S&P lowering its corporate credit rist rating to CCC+, citing continuing weak cash flows and profitability...

"We downgraded Noble because we believe the company's capital structure is not sustainable,"

 

"The negative outlook on Noble reflects the potential that the company will face distress and a non-payment of its debt obligations over the next 12 months,"

Global stocks were mixed to start the week, with Asian stocks higher, European stocks initially advancing then fading gains, while S&P futures are little changed after the biggest weekly drop since April (which for those keeping record was -0.4%). European shares, the euro and the pound all stumbled on Monday as rumblings in Spain, Britain and Brussels reminded investors that the region still has plenty of political uncertainty left in the tank.

Bitcoin is now up over 100% in 2017, amid global political uncertainty and increased interest in Asia, suddenly spiking above $2000 this afternoon for the first time ever...

China's copy of Manhattan is no longer a ghost town, Bloomberg reports. But that doesn't mean it has forever forestalled a "day of reckoning" for its debt-fueled growth.