A near-record single-day plunge in rates for Switzerland's 2Y interest rate has driven it to a spectacular -43.1bps this morning. The German 2Y also has cracked to record low interest rates at -5.2bps. With Gold big over $1585 also, it seems the safety trade - or escape from risk as JPM exposes the reality of the world in which we live - is dramatically on.
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Chart: Bloomberg