.....The follow-on impact from SWIFT Action, if put forth.
— Lawrence McDonald (@Convertbond) February 26, 2022
1. Counterparty risk - other banks in Europe with large exposure to Russian Banks.
2. Gold - Crypto demand
*Soc Gen was trading tighter than HSBC this summer, now meaningfully wider. https://t.co/8xMpXi4n8Q pic.twitter.com/UKUudXBHg3