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.
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
Well that escalated quickly. While this morning's weakness in stocks is being pegged to earnings misses (and rightly so), the selling pressure started as Europe opened and Greek stocks and bonds accelerated their freefall. Greek sto... Read Post