Axe

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Axe
/æks/ (n.)
1. Rock ’n’ roll: An electric guitar. Ideally, a transition ’59 Strat with a slab board and single ply pick guard.

2. Financial trading: The position a trader wants to be in, but isn’t. Where she aspires to go. A longing. A need. A desire. If she is long huge slabs of structured mezzanine credit and it is March 2007, she is dramatically axed to sell it. Fast.