Citi On The SNB Non-Intervention: Pegs Can't Fly, And Why FX Spot Market Intervention Is Not A Panacea

Tyler Durden's picture

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vast-dom's picture

The Great Purge immanent.

speconomist's picture

Uber-powerless Hldebrand bitchez!

SheepDog-One's picture

So promise of Eurobonds which rallied the markets now dont matter upon non-passage, and what Europe got instead was a new transaction therefore rally on! 

The reasoning being that one failed currency helped another failed fiat currency like winos staggering down an alley arm in arm, so all is well.

This market is such total bullshit on a global scale. 

swiss chick's picture

If you ask me its just a bunch of bla bla bla...

But then who am I to say...

swissaustrian's picture


But our leaders aren´t doing very well either. The Bundesrat has no idea what´s going on. SNB is constantly stepping back from its promised actions.

JW n FL's picture

Germany And France Announce Plans For Single European Government As Solution To Debt Crisis


1 World Government on the way!!

JW n FL's picture

France & Germany: Save euro with one EU government

Reuters The Sun - 19 hours ago By VINCE SOODIN THE leaders of France and Germany tonight called on Eurozone nations to form a "collective government" to save the struggling currency. ...

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  • Mercury's picture

    The SNB should be reluctant to intervene in the FX spot market because they've gotten their asses handed to them every time they've tried thus far...

    swiss chick's picture

    Me thinks they are trying to go in deep so the CHF won't be so attttractive no more!!!!!

    falak pema's picture

    The Bernanke put on all B reserve currencies is paying dividends : JPY and SF through the roof, making USD more competitive. Good for DJ for sure. The currency war/ interest based derivative puts/USD carry trades runs amok...