A Beijing socialite stole my boyfriend; she went crazy after I got married.

Jiang Chu fed him spoonful by spoonful, and before he knew it, Xie Jing had eaten most of the hearty Western breakfast on the plate.

When she forked another small piece of toast coated in egg and handed it to him, Xie Jing didn't open his mouth.

The man's large, bony hand suddenly reached out and precisely gripped her slender waist, pulling her into his arms with a slight pull.

"!"

Caught off guard, Jiang Chu let out a soft cry and landed steadily on the man's firm, warm thighs.

Before she could react, Xie Jing had already taken the fork, turned the piece of toast around, and put it directly into her mouth.

"Well……"

Jiang Chu subconsciously chewed twice, the rich aroma of butter spreading between her lips and teeth.

She felt the man's arms tightly wrapped around her waist, and the warmth of their bodies pressed together seamlessly, and her cheeks flushed uncontrollably.

"What are you doing...don't you still have work to do?"

Xie Jing adjusted his posture to make her more comfortable sitting on his lap, resting his chin lightly on her neck, his voice languid from staying up all night.

"We just revealed our hand to Frankfurt, and now we're waiting for their executive director's response."

Upon hearing this, Jiang Chu subconsciously turned her gaze to the curved screens.

On the screen, red and green candlestick charts, complex data waterfalls, and various financial trend charts that she couldn't understand were flashing and jumping wildly.

Jiang Chu glanced at it twice, then suddenly turned her head sharply as if she'd been electrocuted. "Wait, is there some secret data here? Should I not be looking at it?"

Xie Jing raised an eyebrow slightly, feigning seriousness, "Yes, everything is confidential. Once you see it, you must—"

Jiang Chu: "?"

Xie Jing wrapped his arms around her waist and tightened his grip slightly, then lowered his head and bit her earlobe. "Be my wife."

Jiang Chu: "…………"

The man behind me laughed, the vibrations coming from his chest and back.

Xie Jing raised his hand and casually ruffled her hair, his tone indulgent, "There's nothing you can't see, but—"

He paused for a moment. "Can you understand it?"

"No," Jiang Chu glanced at him sideways, "I didn't understand any of the secrets, so you don't have a wife either."

Xie Jing chuckled softly, took her hand, and drew her gaze back to the screen. "Do you want to understand?"

Jiang Chu nodded immediately.

The man's slender fingers slid lightly across the touchpad, bringing up the screen display.

His tone returned to its steady, yet patient quality.

"Look at this chart; it shows the futures price movement of European carbon emission allowances. Simply put, it's a permit; a company needs to hold one of these allowances to emit one ton of carbon dioxide."

Jiang Chu nodded, seemingly understanding, "So, the amount of pollution discharged by each company is controlled by buying and selling quotas?"

"That's right, but that's not all," Xie Jing said calmly. "Under global carbon targets, countries will reduce their total quotas year by year. If a company's quota is insufficient, it will either have to buy it at a high price or upgrade its production line. This mechanism transforms environmental pressure into business costs, and it is also a key trend that is being considered in cross-border investment today."

Jiang Chu nodded again, "I understand, this picture shows everyone buying quotas."

"...It can be traded on the market, and price fluctuations directly reflect market expectations of carbon emission costs."

Xie Jing's fingertips traced the curves on the screen.

"The red line represents real-time buying pressure, and the green line represents selling pressure. Note this—"

His finger stopped at the steep drop.

"Look here, after the news that 'the adjustment mechanism may be delayed due to internal disagreements' spread, the market had a chain reaction. The panic did not come from the news itself, but from the uncertainty."

He switched the chart, and a series of horizontal bars appeared on the screen.

"These bars represent net capital outflows within different time windows. The longer the bar, the greater the amount of capital fleeing the market within a given time period, which also indirectly confirms the degree of panic selling."

Jiang Chu's gaze followed his fingertips intently.

"This involves two terms you may have heard: 'leveraged hedging' and 'option settlement'."

Xie Jing pointed to another structural diagram.

"Leverage is like a crowbar, using a small amount of margin to leverage large transactions, amplifying both returns and risks. Hedging, on the other hand, uses the opposite direction of the trade to offset the risk of the main position."

He then explained it in detail.

"Option settlement is another aspect. An option is a right, which gives the buyer the right to buy or sell the underlying asset at a predetermined price in the future."

Xie Jing paused for a moment before giving her a response.

"On the settlement date, if the market price is favorable to us, the counterparty may be forced to settle at an extremely unfavorable price, suffering huge losses, which will also exacerbate market volatility."

Jiang Chu listened intently, her eyes darting between the complex charts and lines as she tried to organize the information.

She suddenly stretched out her finger and tapped a curve in the upper right corner of the screen that was constantly converging and oscillating.

"I think I understand now. If the regulatory agencies over there continue to remain silent today, without clarifying or intervening, and allow the panic to spread..."

Her fingertips slid along a slowly declining moving average line, finally landing on a slightly protruding platform.

"Is it possible that this moving average will break through this historical support level?"

She looked up at Xie Jing.

"If this key price level is breached, will it trigger... well... anyway, some people will be forced to continue selling... and then a vicious cycle will occur? In the end, companies holding large quotas might have too little collateral and have to make margin calls or something?"

Xie Jing nodded, "A series of margin calls will lead to a liquidity crunch, and European energy companies that have heavily invested in the stock and are hoping that its price will rise to cover the cost of emissions reduction will face the risk of their funding chains breaking down."

Jiang Chu nodded vigorously.

Xie Jing smiled approvingly. "The fragility of the market often lies not in the trend itself, but in the layered leverage structure that is exposed when the trend reverses."

He turned his head and gave Jiang Chu a deep kiss on her fair cheek.

"Chuchu, you learn very quickly. I will teach you these things little by little from now on."