Global Macro Trading Journal

Quote from Daal:
Do you have any info on the Swiss banks exposure to the pigs?I just can't believe they will escape from losses, so I might have to get out of the CHF
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There's a new BIS paper out, but I don't think you should be concerned. The FTQ inflows into CHF are going to far far outstrip whatever selling might occur when people realize CHF banks are exposed.

This is the paper and you might find what you seek pp15 onwards:
http://bis.org/publ/cgfs43.pdf
 
Quote from Daal:

Do you have any info on the Swiss banks exposure to the pigs?I just can't believe they will escape from losses, so I might have to get out of the CHF
More...

On a related topic,

the NYT graphic in this article might be a bit old
http://globaleconomicanalysis.blogspot.com/2011/01/italy-invisible-elephant.html
http://3.bp.blogspot.com/_nSTO-vZpSgc/TSb7zq2AHaI/AAAAAAAAKNY/jwrI1QvB6CQ/s1600/web+of+debt.png

but it is a useful starting point for who owns what dodgy PIIGS debt within the Eurozone
 
Quote from Martinghoul:

There's a new BIS paper out, but I don't think you should be concerned. The FTQ inflows into CHF are going to far far outstrip whatever selling might occur when people realize CHF banks are exposed.

This is the paper and you might find what you seek pp15 onwards:
http://bis.org/publ/cgfs43.pdf
More...

Thanks
 
Remember the email you send Jim Rogers about the CHF, Daal?:D

Anyway, I remember Rogers being asked what he is bitching about loose monetary policies since he gained from it.

He said yes he was making a profit but he wished he wasnt this way.

I can relate to that these days. My bank is down 10% today. :p
 
Quote from Debaser82:

Remember the email you send Jim Rogers about the CHF, Daal?:D

Anyway, I remember Rogers being asked what he is bitching about loose monetary policies since he gained from it.

He said yes he was making a profit but he wished he wasnt this way.

I can relate to that these days. My bank is down 10% today. :p
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I remember, I was wrong(Or 'early' as some would say). I'm still skeptical of the CHF, I keep one eye on the P&L statement and the other in the sell button. Hard to trust a currency that has a large PPP premium due being a 'banking haven' during a global sovereign debt crisis. I'm wondering what the hell their banks hold if it isn't EU debt
 
Quote from Daal:

This could work as well. But I'm thinking maybe a long on Bunds would be better than than everything else. But its kind hard size the trade on IB(GBL seems to be worth €128K)

EUR is easy to size so I'm using that but I might buy bunds at some point
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There's an etf for bunds. Can't remember the ticker and it probably doesn't have a lot of volume, but provides an easy way to get exposure at whatever size you like.
 
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