Thanks goes to Justin
Interesting article on Switzerland money market. UBS is in trouble from what I have been hearing and reading. That may be the action that gets the Europre central bankers moving. Who knows right but I think we may be in for a multi day / multi week rally.
http://www.reuters.com/article/bondsNews/idUSL1757556920080317
Swiss franc money markets were virtually frozen ahead of an SNB repurchase agreement auction scheduled for 0800 GMT, dealers said on Monday, as fear following the weekend rescue of U.S. bank Bear Stearns spread."The situation is very extreme. Beyond one month there is no money market. There is a loss of trust. What is needed is coordinated central bank action -- rate cuts and intervention," said UBS money market trader Peter Thor.
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