It’s time for asset managers to close their books for the month and the first quarter of the year. With hundreds of billions passively invested via index funds, periodic changes to the indexes can sometimes add to the quarter-end flows. That is the case as the widely-followed MSCI indexes are rejiggered today. Dealers say that EUR and CHF are beneficiaries of some of those flows today.
Offers are seen at 1.3350 near-term with a smattering of small stops just above.
Just crossing the wires, Case-Shiller home prices index fell 19% y/y. Ugh.
