In any case it was the Russian default and associated increased vol, increased spreads and decreased liquidity (plus excess leverage) that *started* the losses but the pile-in against their positions by other desks is what finished them.
-
-
-
Yep, but u left out that they also lost money in their rubles short that was hedging their ru bonds. That loss was also tripped by the default
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.