Traders note talk of one of the big Swiss banks circulating an e-mail touting a rate hike from the SNB this Thursday. One would think the monetary conditions created by a record high franc would be enough to dissuade them from hiking but I assume these guys know more than me…makes no sense, but it is what we’re hearing.
If the hike occurs, one market prognosticator likes it to the biggest policy blunder since the ECB hiked in the summer of 2008…