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Swiss Stocks Collapse Most In 25 Years: Surveying The European Close Carnage
Swiss 10Y rates crashed over 10bps by the close (having plunged as low as 3.3bps at one point) but the entire Swiss curve is negative at any maturity less than that. EURUSD crashed over 200pips back below 1.16 - the lowest since November 2003. Swiss stocks crashed around 15% before bouncing back to a 8-9% loss - the biggest drop since 1989. Away from Switzerland (and Greece) European stocks and sovereign bonds saw initial dips bought on ECB QE implications but EU Sovereigns did bleed back wider. European VIX spiked from sub-29 to over 32 and all the way back down to close lower on the day.
The big story is EURCHF - which collapsed 35 handles at its worst...
EURUSD breaks 1.16 - lowest in over 11 years...
Swiss Stocks crashed... the biggest daily drop since 1989...
And The Swiss Yield Curve crashed to negative rates to 9 years...
Away from Switzerland, markets were bulled up by this news implying moar QE coming down the pike...
Sovereign bond spreads collapsed at the open but bled back wider as the day went on...
And ex-Swiss and Greek stocks, European stock markets rallied...
With The DAX dumped and then pumped back over 10,000 near record highs...
European VIX roundtripped...
Charts: Bloomberg
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Bullish. BTFD. Bang Dae Ho. Bitchez.
Nail Gun Squad, report to Zurich immediately. Targets to follow.
The word for 2015 is SHAMBOLIC.
All markets have been broken. The treasury market was broken when the Treasury went in in 2009 under Geithner and bought MBS and other bonds, the dollar market was broken when Bernanke went into the treasury market with future tax revenue dollars, the stock market was broken when JPM et al went in after flipping the treasuries to the Fed from the Treasury for equity. The gold market was broken when the President's Working Group took it down from $1900/oz and lifted the NYFRB's gold and airshipped it to China or wherever it went. There is a massive disallocation of wealth in the financial system.
ALL. MARKETS. ARE. BROKEN.
Swedish women are hot! Are we going to get a 'Costa Rica Special' there in 6 months, I'd book a flight!
Switzerland and Sweden are different countries.
So,
Swiss stocks drop 9%, but the currency they're priced in (CHF) is worth 14% more today.
Looks to me like Swiss stock-holders came out ahead today...
I just wonder if the Swiss has a version of honorable seppaku.
the swiss just destroyed its stock "market". the other cb's will do the same. writing is on the wall. the "big boys" are out of stocks (and/or short stocks now) and the fed is okay if stocks plunge from here. its not like the fat cow running the fed cares about john smith's 401k or pension.
Yes......they'll try to disguise it but oil was the tell and trigger.....this will not be straight down so a lot of BTFDers will get SLAUGHTERED as they stay and or reenter positions this year
replay of 2008. at some point, "they" will pull trigger for the real steep drops (like bernanke the fuck did when he forced LEH into BR). until then, the trend will be down, with bear market rallies.
This thread is accurate.
Look for oil to sink junk bonds, banks to write off their non performing loans and loss equity thusly, sending both the bond market and equity market into a tailspin, CBs will try to move money to fiat but this will not have a lasting effect as the fx market has been saturated by said CBs, causing gold to spike.
What did that duchbag from Texas say when he fumbled his presidential run?
Oops!
And how much did he care? Not at all. He's still governer, maybe he'll run again.
The Fed's hubris is they think they can continue to pillage the treasury forever, but their will be a point of inflection when fiat is cursed and no financial house can save it. We have entered the "run for the hills" time in the "business cycle" and it is possible this is the last business cycle of the American Empire.
"We have entered the "run for the hills" time in the "business cycle" and it is possible this is the last business cycle of the American Empire."
If I had a buck for each time I have heard that, I could probably bail out Detroit
No he is right.
Shemitah, Shemitah, Shemitah... It .. does .. not .. miss ..
there could be a 10-20% drop, but thats it for now. they will keep it together for a few more years. then the next admin will have to deal with the hangover.
the real story is Germany and when it will drop support for the pigs.
imo, the US will be ok long term, its europe to worry about.
Optimist... this is a chaotic event and follow on is unpredictable since they will be chaotic also. This is a black swan, whether its THE black swan, we'll just have to wait and see.
"a lot of BTFDers will get SLAUGHTERED"
Also anyone trying to short.
Market "volatility" will go through the roof. The zigging and zagging will punish any players, except those who can "anticipate" (LOL) the zigs and zags. Same as 2008.
Just get out.
Yep, this is all about suppressing bond yields and appreciating the value of currencies to stave off hyperinflation.
Oh ok, so popping a bubble now is termed "destroying"
We blew some folk's hedge funds up.....
We have internal 401k bleeding
Long switzerland
BTFD
Israeli Embassy Tweets, Then Deletes, Image of ‘Mona Lisa’ in a Headscarf With a Missile
http://www.theblaze.com/stories/2015/01/14/israeli-embassy-tweets-then-d...
http://4.bp.blogspot.com/-nn_2fy5dfTM/VLe24xahNXI/AAAAAAAAI-w/lLlGZHLQ8P...
On a related note, President Obama has finally made a gesture of solidarity following the attacks in Paris. It's now being reported Obama released five more Jihadist radicals from Gitmo.
Truly efficient price discovery on display.
yeah, stepping on a landmine is great for finding it.....
EURO Dollar 1:1
latest on Euro-Crash:
http://tersee.com/#!q=euro&t=text
More groans from the sub as we slip below crush depth.
Nous sommes le USS Thresher.
pods
Nous sommes FUck
Nous somme dans le merde
Nom Nom Nom.. I think the sub planes are stuck full down and the sub commanders are eating in the board room..
Should have voted YES to get some of your gold back.
Should have used some toilet paper euros to convert into gold.
1.81% ten year.....Lol
EURO Dollar 1:1?
latest on Euro-Crash:
http://tersee.com/#!q=euro&t=text
The DAX is due for a good retrace. Way overbought.
Goldman muppets who were fleeced on one of the 2015 "top trades": short CHF/SEK. Loss of 16.5% in two weeks.
Honestly, i never understood the reason for not joining the EUR, but then only pegging your currency to EUR? basically it allowed for SNB to make thier own decision in extreme times. I applaud their action. This is exactly the kind of mature decision that hurts today, but will prevent death in the future. Most coutnry's are faced with similar issues, take the medicine (for like Chemo) but eventually beat the disease. Or just keep taking pain killers and hope the disease cures itself.
Unfortuantely, may be too little too late for SNB as they already own too many EURs. But at least there is someone brave enough to say "enough". time will tell if it was the right decision.
I always wanted to own a chocolate factory.
So, the Swiss took the spotlight today, Mario Draghi front and center next week and then Greece will take center ring. BBY flushed this morning, Caesars Palace to file for "voluntary bankruptcy" soon, radio shack probably in Bankruptcy next month, dollar soon to be trashed. Oil, oil service companies and the shale industry imploding and insanity with every Central Banker.
Think I will hold all my gold, silver and miners for a while.
Luckily, I only wear vintage watches.
So why would SNB do something they know would crash their stock market?
Because if they didn't things will be worse when something else happens in the future?
Exactly.. and the people that watched the markets prior said everything was uneerily quiet right before like all the major players knew this was going to go down.
I'm glad SNB kick the teeth in on the Hedge Fund posiitions who legalized those things anyways?
[Sound of respirator]
Thank goodness for Imperial Credits.
[Sound of respirator]
If the Boss ever found out I am short them...
[Sound of respirator]
Good thing I have some precious sewn into my....well never mind that little detail...
[Sound of respirator]
[Sound of buttons being pushed]
Watto, listen...
[Sound of tinny voice in unknown language]
WTF do you mean "who is this?". Who the fuck else sounds like James Earl Jones but isn't.
[Sound of respirator]
As I was saying, I want to change up a couple of my FX trades.
[Sound of respirator]
[Sound of tinny voice in unknown language]
Yeah, yeah, I got your "Force" hangin'. Different context of "making a killing" asshole.
[Sound of respirator]
[Sound of tinny voice in unknown language]
Tell me you didn't just say "margin call".
[Sound of respirator]
[Sound of tinny voice in unknown language]
I find your lack of faith disturbing.
[Sound of respirator]
And we both know how that turns out.
[Sound of respirator]
Seems like CB's around the world are moving to free floating exchange rates. What does this mean?
The race to print is on across the globe with no end in sight.