Asset managers unloaded euros at the fastest pace since November, says UBS, noting its clients...


Asset managers unloaded euros at the fastest pace since November, says UBS, noting its clients were especially keen to sell the euro/Swiss franc cross. The CHF 1.20 level held, but the bank expects a Greek exit to "provide a stern test" for the SNB.

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  • Brian Bobbitt
    , contributor
    Comments (2083) | Send Message
     
    The Greek / Eurodollar question has been on the minds of investors for a long time now. I have said continuously that TPTB [the powers that be] have been unloading euros as fast as they can without totally trashing the worlds economic picture. Again, what I cannot fathom, is who is buying them at current rates [no matter what the rate is]... Anyway, I am still short DRR and EUO, and gonna stay short til the dust clears from this mess.

     

    NOTE TO POLITICIANS & BANKERS: Thanks for this horrible mess.

     

    I can't understand why we allow them to do this to us, when answer to the economic problem is simple.

     

    Oh well, nevermind,no one wants to hear the answer.

     

    Good luck

     

    Capt. Brian
    The Lost Navigator
    21 May 2012, 12:47 PM Reply Like
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