SNB bailing ahead of the ECB

It would seem the Swiss National Bank (SNB) are more than confident that the ECB are going to announce a major T-bond buying program next Thursday. With the SNB deciding it is pointless to fight Draghi, world markets saw some wild price action in just about all asset classes.


USD, monthly'1

10yr T-bond yields, with outlook

Summary

*its been a long day... so I'll keep this relatively brief.
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USD continues its broad climb. With the ECB set to announce T-bond buying next Thursday, there is little reason why Euro/$ parity won't occur.

Re: the 10yr. chart. US bond yields continue to collapse. However, underlying MACD (grey bar histogram) is on the low side, and I expect a turn sometime soon.


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Looking ahead

Friday will be busy... CPI, Indust' prod', and consumer sent'.

It is opex, so expect some chop, especially in the latter part of the day.  Since the US market is closed next Monday, there will no doubt be some pre-holiday trading issues.

*there are 3 fed officials on the loose.. sporadic comments could easily give the market an excuse to sell lower
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Goodnight from London