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Old 10.10.2008, 17:47
Shorrick Mk2 Shorrick Mk2 is offline
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Re: How Safe is UBS

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Forgot to say, I am asking about the redemptions because if the ... hits the fan re:UBS, it might be THE DAY today to change your francs into various currencies. I noticed too that for the first time in the past few weeks, the panic buying has switched from buying Yen to CHF again. (The rate of JPY/CHF dropped, whereas it has had a steep climb recently).

So safe haven buying has mightly accelerated today, but the CHF gain might be shortlived if UBS drops a news bombshell!
The Yen rate has nothing to do with panic and everything to do with deleveraging and closing down of carry trades, but never mind. Nothing quite like scaremongering is it...
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