BREAKING: More than 1.2 million leveraged retail trading accounts in South Korea triggered margin calls as of July 13th, with an estimated 320,000–360,000 accounts fully liquidated, per Goldman Sachs.
This means around 3.4% of the adult population in South Korea has received margin calls.
The KOSPI is currently down another ~18% since July 13th.
We believe that the total number of fully liquidated accounts is now above 500,000.
BREAKING: Iranian Revolutionary Guards say the Strait of Hormuz will never return to its previous state, particularly for the United States and Israel.
HORMUZ TRAFFIC STILL NEAR STANDSTILL
Shipping through the Strait of Hormuz remains far below prewar levels, despite a small number of vessels getting through.
Here’s a snapshot of traffic as of March 29: