30 March 21 - Hedge Fund Liquidation Hits Banks | Qantas Global markets were little changed overnight (S&P 500 index -0.1%) as Wall Street ended the session almost flat. Investors evaluated the level of ripple effect from a forced block trade for financial markets, with bank shares falling sharply amid warnings of potential losses from a hedge fund’s default on margin calls. Nomura and Credit Suisse are facing billions of dollars in losses after a US hedge fund, named by sources as Archegos Capital, defaulted on margin calls forcing a massive spree  of $20 billion of block sale trades on Friday. Selling was focusses on the Chinese tech giants and US media firms - putting investors on edge about who else might have been caught out. So far it appears the situation has been well contained, with many banks reducing their exposure to the hedge fund and that there is no concern that this could trigger a wider systemic event for markets. Els...