Update: Timber: Wonder what is happening with Greek deposits? Nothing good, at least nothing good for Greek banks. And it is not just Greece: all of Europe is scrambling into the relative security of Switzerland where the EURCHF just hit a fresh all time low of 1.1915, and likely to drop much lower. And the ongoing selloff so needed for QE3 continues.
In the past we have repeatedly observed that in order to get an instantaneous appreciation of which direction all too critical Greek bank deposits held by the public are headed (hint: out), instead of waiting for delayed NBG data, o... Read Post
As the stock market whipsaws continue, nothing compares to what is happening in the various Swiss Franc pairs, as both majors USDCHF and EURCHF have soared (the Franc has plunged) following rumors that UBS (and possibly more banks) ... Read Post