Swiss National Bank

Tyler Durden's picture

The Swiss National Bank Wishes You A Happy Holiday





Interestingly enough some customers asked me yesterday my opinion on EURCHF, and my opinion was: it's a fallin knife, and every time it reverses the market posts a bullish engulfing day. My thinking was also that despite some short interest in Euroswiss, there is very little priced in for Swiss rates, and a suprise would most likely come on the hawkish side, which would add to downside pressure. Therefore a reversal was most likely going to be driven by intervention. Little did I expect we would see that today! - Nic Lenoir

 
Tyler Durden's picture

Swiss National Bank Set To Intervene As CHF Hits All Time High Against Euro





Everyone's favorite openly interventionist central bank (no, not the Fed: Bernanke is all about covert market manipulation) the SNB is about to pull the mother of all Swiss Franc dumps, as the CHF has just hit an all time high against the euro. And when that happens, the one currency that everyone loves to forget is about to get some seismic shocks. Also Mr. Bigglesworth (aka Ben Bernanke) gets upset, and tress die. It is perfectly logical that Soros-lites all over the world are currently loading up on cheap CHF straddles in anticipation of a UK 1990's redux. The race to the currency bottom is now in the second lap.

 
Tyler Durden's picture

Swiss National Bank Accelerates Downside Currency Intervention, Raises To Bernanke





It was just a matter of time before the sensible banks (read, not some fossilized dinosaur out of Japan who apparently does not realize what a strong Yen means for his country's trade surplus) told Bernanke: "basta." The latest on the currency intervention front comes courtesy of Switzerland, where the Swiss bank has again sold a boatload of CHFs to prevent the United States from being the only country hell bent on destroying its own national currency.

 
Tyler Durden's picture

Swiss National Bank Discloses Further Intervention Possible





Developing story: The Swiss - US monetary war is now officially on.

And in other news, documents obtained by the US House Committee indicate apparent dissension among senior Fed officials about BOFA bailout, impact on Fed's bal. sheet. Obama soon to nominate BB for Dictator Czar (yes, yes, I get it).

 
Tyler Durden's picture

Swiss National Bank Discloses Further Intervention Possible





Developing story: The Swiss - US monetary war is now officially on.

And in other news, documents obtained by the US House Committee indicate apparent dissension among senior Fed officials about BOFA bailout, impact on Fed's bal. sheet. Obama soon to nominate BB for Dictator Czar (yes, yes, I get it).
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