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Swiss Flight To Safety Largest In 7 Months
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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its peged to the EURO (ZERO) there is no safty but PM's
Cyprus, USA.
GOLD $50K ...
precisely the case. the euro is surging now.
The top is confirmed. http://blogs.marketwatch.com/thetell/2013/03/18/goldman-expects-sp-500-to-rally-even-more/
TD's rule: Always do opposite of Goldman's advice.
So yes, Goldman is selling the rally while selling the rally......
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...
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!
Bernank is due back in the office around 2 today. Expect a smash on gold & silver shortly thereafter.
Ben has stocks' back. BTFD.
This could be one of those weird times when gold and the dollar go up simultaneously.
heh...We are fucked, have been fucked for a long long time. We just don't know when to simply lay down and die.
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.
Calculated Risk sez everything is A-Ok with the economy...nothing to see here, move along.
Somebody is mistaking a teapot for a pressure cooker with a clogged relief valve.
Dow green!
Safest place in the world is parking at slightly negative return, what a piece of crap this all is.
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.
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!
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.
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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.
No, the smart money is buying US stocks and owning US confetti! lol! Just listen to the news media they always tell the truth.
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.
Every part of the US markest is a fraud
Meanwhile junk assets like Euro Stoxx 50 (just look up the components) are levitating back towards unchanged.
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?
Well its after 2:30 pm EST and gold is up $13.22 from this morning's open. No gold smash happening...yet!