A weekend note via Nordea with a ling euro sgainst Swissy recommendation

  • Target is 1.1020
  • stop loss is 1.0480

Citing:

  • it is the pair that most truly reflects the EUR break up risk premia
  • Long EUR/CHF should work if the EU agrees on a debt deal & is also
  • - a decent carry trade
  • - has SNB backing as it intervenes

---

The first part of their note discusses …

  • Just when you thought US politics could not be "freaked up" more

…. yes, Kanye:

  • Kanye all of a sudden enters the frame with an Elon Musk backed presidential bidding. What a time to be alive! The bread and butter of a FX/rates market-strategist is getting close to that of a reality TV journalist but ast least it is not boring. Having said that, we opt not to spend more than a few words on the new political weirdo duo in Kanye/Musk as we cannot imagine that anyone would vote for them. #Famouslastwords

Related to this: