I Became the Youngest Daughter of a Chaebol Family-Chapter 115: Interest Rates and Bonds (3)
Spending money is more important than earning it.
Money is not the most important value in life.
That’s something you often hear from the truly wealthy—and something I’ve come to understand intimately since reincarnating.
In the end, what defines a person’s social standing is the size and nature of their desires.
“Phew... I’ve got too much money. It just piles up while I’m breathing.”
Of course, I have no intention of stopping here. But still, sometimes, when I make money this easily, it does feel... surreal.
[Alpha Fund surpasses $25 billion in capital... A Wall Street legend is born]
[U.S. base rate expected to rise over the next year—Alpha Fund CEO predicts...]
[The French Finance Ministry groans. How far will the Crédit Lyonnais scandal go?]
I skimmed through the collection of articles detailing my exploits and felt a deep sense of satisfaction.
Just drinking coffee, and I’m already full.
The Fed hadn’t even officially announced the full rate hike schedule yet, and we were already here.
“...Then, would you mind sharing a bit of that with me?”
Seo Ji-yeon muttered playfully as she clipped foreign-language newspaper articles.
Sure, I was giving her a generous allowance. But hearing someone next to you casually talk about making hundreds of millions of dollars—or blowing tens of thousands in a single night of indulgence—tends to make reality feel a little... distant.
Makes you [N O V E L I G H T] wonder if you’re really not poor yourself...
That’s why it’s important to live within your means. Yep, yep.
“Hm, how much do you need?”
“I’m good. It’s not like I need cash right now... And if it were truly important, you’d give it to me first, wouldn’t you?”
In that sense, Ji-yeon was a great friend who quickly understood her place.
You don’t need a dog that bites its owner. Lucky me.
I glanced down at her while holding a wad of cash and gave a small smile.
“Hmm~, our little Ji-yeon’s still so immature. Aha-haha, that was close.”
“...You’re thinking something weird again, aren’t you?”
“No no.”
Rustle.
I set down the paper and looked out the window.
For some reason, February wasn’t that cold this year. Must be an unusually warm winter.
Not that I’m complaining, but if it gets too hot in the summer, that’s going to be a problem.
Thank goodness every place I go is equipped with air conditioning and heating.
Getting the school to install proper climate control took so much effort.
“By the way, Daehwa High School’s finished now, right?”
“Ah, yes. They just put out notices for new student admissions and transfers for grades 10 and 11.”
Mhm, good.
This is how money should be spent.
I probably spent billions building the high school, but it didn’t feel wasteful at all.
“Is there anything you want to add to it? A swimming pool? Concert hall? I’m not going to just hand out cash, but things like that are doable.”
“Hmm... I’m good. And the pool—well, I figured you’d already had the place outfitted to perfection anyway.”
Oh no, did she catch on?
Still, I have no regrets.
High schoolers are basically adults. I figured they’d be able to enjoy a proper pool. Just saying.
“Miss. You don’t really care what the students think, do you?”
“I care a lot, actually.”
“Then why are the official Daehwa swimsuits like that?”
Seo Ji-yeon was still in her third year of middle school. She’d be entering high school with me next year, so maybe she was getting worked up over it.
Or maybe it was just classic teenage girl stuff.
“I mean, it’s not even that revealing. It’s just standard competitive swimwear, the kind pro swimmers wear.”
There’s a solid excuse. Super expensive and not very durable—but it’s free and unlimited, right?
Sure, it’s really tight and hard to take on and off by yourself... but, well, that’s just how it is.
“Well, maybe to a perverted young lady like you it doesn’t seem revealing... But when we went to the U.S., you wore that weird slingshot bikini, and at school, you wouldn’t even let the other girls out when you were changing in the classroom.”
“...That was just me not caring what other people thought. I call it confidence.”
“What kind of girl even says that?”
...Ugh. Have you guys forgotten Suzumiya Haruhi already?
***
Wall Street, still gripped by the chill of winter.
The heart of global finance—where money surged in and out in roaring waves.
On the trading floor, the massive ticker boards were lit up in red, as though broadcasting the arterial hemorrhaging of a patient in critical condition.
“Dump all the 30-years! Now!”
“Margin call! Dammit, shit—!”
“What the hell is happening—? That lunatic Greenspan...!”
Shouts, screams, ringing phones, and furious keyboard smashes all clashed in chaos.
Just a few hours ago, the traders were riding high on greed and optimism.
Now, their faces were pale and bloodless. One piece of breaking news had torn the bond market apart.
[BREAKING: Fed stuns market with surprise 25bp hike. 3.25% → 3.50%]
[Shock! Chairman Greenspan announces ‘preemptive action’ to curb inflation]
Just 25 basis points.
On paper, it seemed small. But the bond market didn’t take it that way.
This wasn’t just a rate hike.
It was a prelude to the end of a year-long low-interest era.
A sucker punch to the back of the bond market’s sleepy head.
“Leverage... damn margin requirements!”
A trader clutched his head and howled.
For the past few years, the bond market had been riding a major boom.
Investors borrowed money at low interest rates and bought into long-term bonds.
Rates looked stable, and 30-year U.S. Treasury bonds were yielding over 7%.
They were optimistic about interest rates.
...No, to be fair, they knew rate hikes were coming.
The problem, as always, was greed.
To chase higher profits, they borrowed more on top of what they’d already borrowed, piling up leverage like a snowball.
They believed interest rates would stay low and stable—and walked a tightrope.
Today, Chairman Alan Greenspan of the Federal Reserve sliced that rope without hesitation.
Margin calls came flooding in, and those who couldn’t cover them had to dump bonds at rock-bottom prices.
One sell order led to another, plunging the market into a whirlwind of panic selling.
It didn’t last long.
How much more blood can pour from a frozen corpse?
“...Hmm. So that’s how far it went.”
“Honestly, this isn’t even that bad. Compared to what I saw on Black Monday...”
“Tsk tsk, typical bond guy. Everyone knows the crown jewel of finance is equities.”
Those screaming were already the defeated.
And on Wall Street, a single loss often meant death.
That was fine. It happened all the time.
Until...
The Fed hiked rates again.
[April 18 – Fed announces additional 25bp hike. 3.75%]
[Orange County faces bankruptcy... Major losses reported at Piper Jaffray]
[Mass bond fund redemptions... The betrayal of ‘safe assets’]
“...Okay, now this is getting serious.”
Breaking news flooded in nonstop.
Reports of hedge fund liquidations, billions in losses at major investment banks—even local governments facing insolvency.
Liquidity dried up, and the market froze.
“Greenspan! Please... please talk to us! The market is dying!”
“This is madness! I’m—I’m getting out of here!”
Panicked voices pointed fingers at the Fed, but only silence—or generic policy statements—answered them.
“This is an unavoidable measure to suppress overheated inflation expectations.”
“Leveraged investment is the individual responsibility of each market participant...”
No one forced you to use leverage.
The Federal Reserve—mostly staffed by people from private corporations—remained firm in their commitment to price stability.
They say big players don’t die.
But this was a declaration that small players can die just fine.
And in U.S. terms, a hundred billion dollars was a small player.
So what if Mexico’s currency collapsed?
It’s not the U.S., is it?
I watched the foreign news updates calmly.
The screams from Wall Street seemed to echo across the ocean, but there was a faint smile on my lips.
The monitor at Daehwa Investment Bank displayed the results of our recent bond futures liquidation.
Astronomical numbers proved just how much we’d gained.
“Alright, that wraps up this round... Once maturity hits, we’ll go again.”
This was far from over with just two rate hikes.
Chairman Greenspan—the “Maestro” of the American economy—would continue conducting his policy baton with precision.
How fitting for a graduate of Juilliard, one of the world’s top music schools.
If the conductor says so, who dares raise a hand in protest?
Time passed indifferently...
And then came the final blow.
[Shock and Awe! Greenspan executes dramatic 50bp hike! Base rate now 4.25%!]
[Wall Street’s predictions shattered... May was supposed to hold steady]
[Bond market freezes solid... Volume plummets, investor sentiment in ruins]
Fifty basis points. A “Big Step.”
The market was no longer afraid—it was stunned.
Chairman Greenspan’s will was unwavering.
To slay the monster of inflation, he treated bond traders’ screams as little more than background music.
I took a sip of coffee and smiled in deep satisfaction.
‘Ah, sweet. So sweet.’
People say bitterness makes alcohol and coffee taste sweet.
But that’s crap.
A well-timed short—now that’s sweet.
And I knew...
This storm wasn’t over yet.
If history stayed on course, the base rate would climb to 5.50% by the end of the year.
Even though I’d influenced the global economy quite a bit, these massive events remained on track.
Still, I wasn’t bothered.
We’d made over a billion dollars just at Daehwa Investment Bank.
How could I possibly be upset about that?
I wasn’t some greedy wretch.
And I had no desire to interrupt the Maestro’s symphony.
All I wanted...
Was the best seat in the house—
To savor this brutal, dazzling performance as the climax drew near.
Of course, when the final note hit...
I’d be ready to collect the loudest applause—and the biggest profits.
The source of this c𝐨ntent is freewe(b)nov𝒆l
