Rates during the Great Rate Compression can't go below zero...can they? Speaking of "risk free assets", gold has crept up, but U.S. equities continue their phase transformation from risk asset to "safe haven". What a transmogrification.
The Swiss National Bank on Thursday said it would introduce a negative exchange rate of -0.25 percent on sight deposit account balances at the central bank as it seeks to deter safe-haven buying.
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