Template:Archegos capsule: Difference between revisions

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 Now, hindsight is a wonderful thing, but really there was only one way this was ever going to turn out.
-On 22 March, [[Archegos]]’ position in Viacom had a gross [[market value]] of US$5.1bn.<ref>{{credit suisse archegos report}}</ref> In a cruel irony, Viacom interpreted this to mean “market sentiment’ was so strong that it should take the opportunity to raise capital.<ref>As it was a [[Synthetic equity swap|synthetic]] position, Viacom may not have realised Archegos was the only buyer in town: if it had, it may never have tried to raise capital in the first place.</ref> Alas, no one was buying. Not even Archegos could, since it was tapped out of equity with its [[prime broker]]s.
+On 22 March, [[Archegos]]’ position in Viacom had a gross [[market value]] of US$5.1bn.<ref>{{credit suisse archegos report}}</ref> In a cruel irony, Viacom interpreted this to mean market sentiment was so strong that it should take the opportunity to raise capital.<ref>As it was a [[Synthetic equity swap|synthetic]] position, Viacom may not have realised that Archegos was the only buyer in town: if it had, it may never have tried to raise capital in the first place.</ref> Alas, no one was buying. Not even Archegos, since it was tapped out of equity with its [[prime broker]]s.
-Viacom’s capital raising therefore failed and [[Archegos|all hell broke loose]].
+Viacom’s capital raising therefore failed, and [[Archegos|all hell broke loose]].