macrocephalopod on Twitter: "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.… https://t.co/kmFquIOtxh"

@macrocephalopod

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‏ @macrocephalopod

Replying to @macrocephalopod @CrookedCapital

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.

5:05 PM - 28 Jan 2021

1 reply

1. 161phi‏ @161phi 28 Jan 2021
  Replying to @macrocephalopod @CrookedCapital
  
  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
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