“Occasionally, two or three waves stack on top of each other, and the backwash is sucked into the breaking waves, spraying white foam into the sky.”
“And I'd be surprised if some of the backwash of that hasn't carried into the international arena.”
backwardation
(finance) The situation in a futures market where prices for future delivery are lower than prices for immediate (or nearer) delivery. Generally arising from a near-term shortage of a commodity.
(obsolete, London Stock Exchange)fee paid by a seller on settlement day either to the buyer or to a third party who lends stock, when the seller wishes to defer settlement until the next settlement day.