RE: https://sfba.social/@drahardja/117222954513043050
strictly speaking this is trading in _synthetic_ MBS (mooncake-backed securities) because the underlier is a CDS (contract to distribute sugar) rather than physical mooncakes.
#TodayILearned that the tradition of giving mooncakes in #China has given rise to a sort of economic cycle in which slips of paper stand in for mooncakes, and companies make profits without selling a single box of mooncakes.
