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Swiss Flight To Safety Largest In 7 Months

Tyler Durden's picture




 

While the equity markets inch back to their 'safe' place of de minimus volumes and slow leakage higher, it seems real money is flooding into the safety of Switzerland (and gold). Swiss 2Y rates are testing back into negative territory once again and have dropped (on demand) their most since August 2012.

 

 

and gold is also bid (despite USD strength) as safe-havens remain where real (non-Johnny 5) money is flowing...

 

Charts: Bloomberg

 

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Mon, 03/18/2013 - 12:05 | 3342866 camaro68ss
camaro68ss's picture

its peged to the EURO (ZERO) there is no safty but PM's

Mon, 03/18/2013 - 12:07 | 3342876 BaBaBouy
BaBaBouy's picture

Cyprus, USA.

 

GOLD $50K ...

Mon, 03/18/2013 - 12:14 | 3342902 Iocosus
Iocosus's picture

precisely the case. the euro is surging now.

Mon, 03/18/2013 - 12:37 | 3343003 ihedgemyhedges
ihedgemyhedges's picture

TD's rule: Always do opposite of Goldman's advice.

So yes, Goldman is selling the rally while selling the rally......

Mon, 03/18/2013 - 12:21 | 3342880 trollin4sukrz
trollin4sukrz's picture

Well thats fantastic, a really smart decision. We can put that in a money market mutual fund and reinvest the earnings into foreign currency accounts with compounding interest, and its gone. Next please...

Mon, 03/18/2013 - 12:21 | 3342932 SheepDog-One
SheepDog-One's picture

Aaaaaaaaaand...it's gone.

It's gone?

Yes sir, it's gone.....do you have any money in this bank?

NO you just took it from me!

Please make way for the next customer in line who actually has money in this bank sir!

Aaaaaaand....it's gone....NEXT!

Mon, 03/18/2013 - 12:09 | 3342883 Charles Nelson ...
Charles Nelson Reilly's picture

Bernank is due back in the office around 2 today.  Expect a smash on gold & silver shortly thereafter.

Mon, 03/18/2013 - 12:27 | 3342973 Hedgetard55
Hedgetard55's picture

Ben has stocks' back. BTFD.

Mon, 03/18/2013 - 12:10 | 3342887 Yellowhoard
Yellowhoard's picture

This could be one of those weird times when gold and the dollar go up simultaneously.

Mon, 03/18/2013 - 12:11 | 3342889 PierreLegrand
PierreLegrand's picture

heh...We are fucked, have been fucked for a long long time. We just don't know when to simply lay down and die.

Mon, 03/18/2013 - 12:12 | 3342894 Lord Drek
Lord Drek's picture

http://www.marketwatch.com/story/cyprus-crisis-will-soon-blow-over-2013-...

I can't wait until this rotten house comes crashing down with worthless shills like this guy at the bottom of it.

Mon, 03/18/2013 - 12:15 | 3342909 PierreLegrand
PierreLegrand's picture

Calculated Risk sez everything is A-Ok with the economy...nothing to see here, move along.

Mon, 03/18/2013 - 12:18 | 3342916 Manthong
Manthong's picture

Somebody is mistaking a teapot for a pressure cooker with a clogged relief valve.

Mon, 03/18/2013 - 12:18 | 3342917 mdtrader
mdtrader's picture

Dow green!

Mon, 03/18/2013 - 12:19 | 3342921 SheepDog-One
SheepDog-One's picture

Safest place in the world is parking at slightly negative return, what a piece of crap this all is.

Mon, 03/18/2013 - 12:33 | 3342991 Edward Fiatski
Edward Fiatski's picture

Indeed.

Those buying, are working on the assumption that losing 0.1% is better, than taking sharp haircuts of 9.9%.

Welcome to Risk Off.

Mon, 03/18/2013 - 12:25 | 3342942 mdtrader
mdtrader's picture

Judging by the market's reaction, the politicians now have the green light to confiscate even more. Perhaps this was trial run to see how confiscation would play! Next up company profits!

Mon, 03/18/2013 - 12:25 | 3342945 swissaustrian
swissaustrian's picture

SNB is doing everything to keep the CHF low via rhetoric today. They don't care about gov. bond yields, though.

The return on Swiss 2ys is the 1.8% gap between EUR/CHF 1.225 and 1.201 which is the target for the next month or so. It's not about yield, it's about currency gains.

----

I'm making a prediction here: The Draghi put, ie the promise to do OMT (with unknown conditions) is going to be tested this year.

Mon, 03/18/2013 - 12:28 | 3342970 MFLTucson
MFLTucson's picture

No, the smart money is buying US stocks and owning US confetti! lol!  Just listen to the news media they always tell the truth.

Mon, 03/18/2013 - 12:27 | 3342971 SheepDog-One
SheepDog-One's picture

And just to rub all our faces in even more shit, because god forbid one moment goes by where we're not properly covered in shit by the 'El-ites' daily... they ramp all markets green....except PM's.

Mon, 03/18/2013 - 12:31 | 3342985 MFLTucson
MFLTucson's picture

Every part of the US markest is a fraud

Mon, 03/18/2013 - 12:42 | 3343030 e m m
e m m's picture

Meanwhile junk assets like Euro Stoxx 50 (just look up the components) are levitating back towards unchanged.

Mon, 03/18/2013 - 13:30 | 3343259 Diplodicus Rex
Diplodicus Rex's picture

For the non-financials amongst us, is the right hand axis of the Swiss 2Y chart in % or in basis points (0.01%)? My interpretation is that if you buy a Swiss 2Y bond you get back 0.0502% less than you invested. Is that correct?

Mon, 03/18/2013 - 14:37 | 3343588 KashNCarry
KashNCarry's picture

Well its after 2:30 pm EST and gold is up $13.22 from this morning's open.  No gold smash happening...yet!

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