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Strategies & Market Trends : John Pitera's Market Laboratory
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To: The Ox who wrote (17492)12/23/2015 10:56:47 AM
From: John Pitera5 Recommendations

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Jan 15th I believe was the date that the SNB stopped defending the peg and the EUR moved 28% against the CHF in 10 minutes!!!!..... that just totally blew a bunch of people up...... the USD moved over 10% against the swiss in that same very short window.

That was the biggest move ever among the real mature serious currencies..since the collapse of Brenton Woods and the start of floating currency trading in 1972.

What is fascinating is that the Swiss created such a negative currency interest rate differential that the Euro ended up going back to the price level it was at prior to the the depegging. That's one sure way to keep the bid out of your currency charge them a big fee to hold the currency.

I have been watching Swiss 10 year bonds and they have been moving deeper into negative yield and higher in price... they reached almost negative 90 basis points on a 10 year note a week ago..... and then they moved very quickly this past week to were they are yielding only negative 15 basis points very swiftly

bloomberg.com

I am convinced that currency moves the first 3 weeks of January 2016 will be the most important global market to watch to get a bearing on where the global economy is going.

John
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