Dollar Funding Crisis Reaches...Switzerland. This Isn't (Just) Credit Suisse, Though.
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While the world was focused on the UK and its gilt-y pound, the warning signs were everywhere how this was and remains eurodollar business. Global dollar shortage, emphasis on "global." Now Switzerland has seen US$ funding eroded within its borders - or maybe from outside - to the point the SNB is activating US$ swap lines with the Fed. Either way sure seems like that escalating third deflationary wave markets (*especially* Japanese bills) have been warning about.
Video Length: 00:17:39
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Leave It To Eurodollar
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