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Swiss Stocks Crash 15%, Yield Curve Collapses, Negative Rates To 9 Year Maturity

Submitted by Tyler Durden on 01/15/2015 09:23 -0400

The US markets are just waking up to the bright red margin calls but the carnage in Switzerland remains. The Swiss Market Index plunged almost 15% on the SNB news (and is bouncing back modestly) to 3-month lows (Bullard lows) before bounciung back modestly. The Swiss yield curve has been crushed 10-20bps lower with yields negative all the way out to 9 year maturity... EURCHF is holding 1.02 for now...

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Thu, 01/15/2015 - 09:24 | 5664319 ACP

15%?

Seems like a lot.

Thu, 01/15/2015 - 09:32 | 5664346 SWRichmond

In case anyone is confused, this is what a Depression looks like.

Thu, 01/15/2015 - 09:42 | 5664377 firstdivision

I don't understand this. Where's the market halt and reversal of all sell orders into buy orders? This is too much for my American market centric head to understand.

Thu, 01/15/2015 - 09:57 | 5664444 DavidC

Take a look at DAX, that says it all really.

DavidC

Thu, 01/15/2015 - 10:06 | 5664499 LawsofPhysics

Indeed. So, rally on then?! Seems like a lot of people can't get their stories straigh or are going "off-script".

Interesting times.

Thu, 01/15/2015 - 09:26 | 5664322 ukspreads

Oil rallying though and on the verge of a new uptrend

Thu, 01/15/2015 - 09:27 | 5664327 semperfidelis

Margin calls.

Thu, 01/15/2015 - 09:33 | 5664352 Oracle 911

More likely a dead cat bounce and new lows next (around 39-40$).

Thu, 01/15/2015 - 09:28 | 5664326 tarsubil

What's the technical term for a yield curve that looks like that?

Thu, 01/15/2015 - 09:52 | 5664417 CRYBABY

fucked

Thu, 01/15/2015 - 09:28 | 5664328 Quinvarius

The Fed and the Treasury are going to clamp down on US stocks like a 20 year old stripper doing kegles in the face of this implosion. The facade must not crack!

Thu, 01/15/2015 - 09:46 | 5664331 Racer