Скачать или смотреть The $25 Trillion Arbitrage: Why This High-Stakes Bet Could Unwind Everything

The global derivatives market just hit $25 trillion per day1. It surged 87% since 2022 in a massive structural shift23. Libor is dead; long live the new risk-free rates24. But this massive turnover is built on extreme leverage5. Hedge funds are placing gigantic, secret bets on US Treasury futures67. This is called the cash-futures basis trade67. They exploit minuscule arbitrage opportunities for monumental gains7. The system is incredibly fragile78. Regulatory shifts fueled another dangerous trade: the interest rate swap spread bet59. Volatility exploded after 2022's rate hikes1011. Central banks are struggling to monitor the rapid price shifts12. In Asia, offshore trading dictates prices during chaos13. Critical automation lags far behind cash markets14. If funding dries up, these highly leveraged positions will violently unwind7. The crash would amplify volatility across all markets8. $25 trillion of daily risk is waiting for a trigger1. Are we about to witness the greatest financial unraveling in modern history?