Swiss Stocks Collapse Most In 25 Years: Surveying The European Close Carnage
by Tyler Durden
ZeroHedge.com
01/15/2015
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.
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