Swiss miss - WHEN the Swiss National Bank (SNB) intervened to weaken its currency in 2011, analysts called the subsequent abrupt drop in the franc’s value a 20-standard-deviation move. Assuming the franc’s ups and downs follow a normal distribution, such a big shift should not have occurred again for many squillions of years. Yet when the SNB reversed itself and lifted its cap on the franc’s value on January 15th, sending it soaring, the market was wrong-footed once aga... ow.ly/2THAoM
Posted on: Thu, 22 Jan 2015 00:06:47 +0000
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