One was anticipating. You know the Central Banks are good about telling the markets what theyre going to do in advance and when that doesnt happen you see swings like this. The Swiss National bank coming out with its news saying it was going to delock the swiss franc from the euro. Since 2011 they had been tying the currency cap in 2011. Swiss national bairng was saying you had to have 1. 2 swiss francs to the euro. They let that go unexpectedly. Moved 30 . Basically 120 euro. 120 swiss francs to the euro. Yeah down. 86. Right. Its complicated stuff and theres a lot to get your head around but this is a massive move. Weve never seen a currency swing like this before. It was also the u. S. Dollar we saw the swing against because the dollar was high against the swiss frank because it was tied to the euro. When they let that go it was a massive snap. So it had been that they were benefitting by being tied to a weak euro but it wanted to go much higher and obviously i want it wanted to go
Atlantic yards complex. Oakland has changed a lot since i lived there. Hes helped to build the tallest occupied tower. Good to have you here. And i come back home to new york, im always mad the city has changed so much. Heres the man to blame. Its always a party when bruce is here. About one hour away from the closing bell today. What a market it has been. The fed coming out thomas thing they will continue to taper, reducing the Bond Buying Program by another 10 billion to 65 billion a month. You can see the dow right there when that statement came out, whom, down to its low of the session. On the flipside, you have the 10 year benchmark yield that shot straight down. Lots of bond buying going on in the treasury markets. Expectreaction you would being that people think the fed is serious about taking stimulus away. Slowly. 10 billion out of 75 billion, its the same kind of cut as last time, but i look at it and i see it slowly tapering. The amount of people who said the fed was going t