Daily Briefing: Archegos Unwinds as S&P 500 Flirts with 4000

Real Vision editor Jack Farley welcomes Real Vision’s Weston Nakamura and Max Wiethe to the Daily Briefing. After briefly analyzing the day’s price action (U.S. equities surged as Treasury yields rose), they analyze the forced liquidation of Archegos Capital. Weston provides insight into the mechanics of the over-the-counter derivatives that were involved in the blow-up as well as big banks such as Goldman Sachs, Nomura, and Credit Suisse that were prime brokerages to Archegos Capital.