“Leverage, Liquidity and Volatility upturn markets, triggered by policy mistakes, ignorance, hubris or plain getting it wrong. These are dangerous times as multiple issues threaten confusion – so some simple market mantras might help!”
As Greensill and Archegos roil markets and cause losses, they beg the question – who is next? Why is 2021 turning into the year the scams are unravelling? Will leverage on leverage trigger wider implosion or will it be something else, like liquidity?