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Joseph Wang & Alex Etra: Trillion-Dollar Liquidity Drain Imminent
Forward Guidance
Cash Bonds vs Futures: Understanding Basis Trades
Blockworks crypto event, Permissionless 2, is scheduled on 11th-13th September, 2023 in Austin. It will cover ZK Tech, rollups, account abstraction, MEV and various other aspects of crypto/nCash bond market and futures market are two major ways to go long or short bonds/nThe traders leverage futures for long trades to avoid cash bond's maturity-related troubles/nHedge funds short futures and go long on cash bonds for basis trade, not for directional exposure/nBasis trade went wrong in March 2020 as it significantly widened, leading to substantial losses for many people/nBasis trade seems on track now, but it's like collecting pennies in front of a steamroller/nMany people got flattened in September 2019 by the steamroller
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