The BIG Story

The competitive ccy hot potato got hotter today. Mario suggested they were "operationally ready"  to go negative deposit rate. The Eonia curve went negative. Par calls traded up on the 30 day FF contract. The German 3 yr went negative nominal. The Swiss stomped their feet, again ! The Swiss experience (Finns too) has led to a near total ignoring of this action by the mainstream financial press. TV? fugetaboutit . The idea of paying interest for your cash is going globally through the looking glass. The Mad Hatter's table is filling up.

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