margin calls 追加証拠金、追証As prices fall, the value of the collateral used as security for loans declines as well, provoking margin calls. Holders of securities must sell them at distressed prices to meet the minimum cash or capital req…

backardation 逆転現象（直物価格が先物価格を上回ること）When the idea started to be heavily promoted, around 2002, there was a rationale for it. Commodity futures were selling at discounts from cash, and institutions could pick up additiona…