Chapter 376： The "Massacre" of the Swiss National Bank (large

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When Yang Cheng arrived home, it was less than 4 pm. Mom and Dad were still busy in their respective companies and couldn't come back half of the time. Even Old John was busy with dinner and family chores. There was no time to chat with Yang Cheng. It was boring. He took a shower, changed his clothes, and lay empty on the big sofa in the living room.

Of course, he didn’t think about anything. He was wondering whether to go on vacation in the southern hemisphere. This year’s winter in the northern hemisphere was extremely cold, and New York was no exception. He was tingled by the cold wind during the day, and he wore thick winter clothes to go out every day. He was in trouble.

As for skiing? Haha, just think about it. I've been too busy these days, I'm so exhausted, I'll never sit down if I can lie down.

But what does it mean to be on vacation? Beautiful women and brothers cannot be less, beautiful women are used to warm chuang, brothers are used to accompany wine!

A call came to my good friend's cell phone, "Hey, are you busy? Are you interested in taking refuge in the southern hemisphere?"

David Ellison yelled angrily, "Damn, who is so leisurely like you, the company has a few movies ready to be released, I am busy with the release of the back of the head, how can I be in the mood to accompany you out? Leon."

After complaining, he hung up the phone, leaving Yang Cheng dumbfounded to hold the phone, and cursed in annoyance for a while, what for the company, this guy must be picking up girls, there is a guy of the opposite **** and innocent.

After thinking for a while, I called Xiao Lizi again. After a few words, Yang Cheng threw away the phone with a disappointed look. This guy went to Alaska to make a movie. It's really unlucky to drink cold water. I don't have a brother to accompany me. have it? Who can I call?

Lindsay Allison? Forget it, this woman has been in a sensitive period since she had the affair backstage at Victoria's Secret in London. Although Yang Cheng tidied up the director who harassed him, her reputation was always affected and she was not suitable to follow suit in a short time. Yang Cheng meets;

Emma Watson? This girl was attracted by Yang Cheng's philanthropy unintentionally mentioned, and she discussed with the agent team how to maximize her image. In addition to serving as the spokesperson for the Yang Cheng Charity Fund, she is also ready to actively participate in UN charity activities. , Didn't even bother to accompany Yang Chenglang;

As for those two in South Korea, they are busy returning with new albums, let alone going out on vacation. The time for the wind is so pitiful. Every day, they are tired to die from the trip. Of course, the money is not little earned, so Yang Orange has no reason to stop, after all, cutting off a person's wealth is like killing a parent;

Georgina, who is closest to herself, went to the Bahamas with her father on vacation. Yang Cheng was embarrassed to follow her cheeky. The new py Amanda Hirst played a mystery. After 419, she didn’t even answer Yang Cheng’s phone. Up.

That girl Susu was obedient and willing to follow Yang Cheng to run around, but Yang Cheng couldn't take her away, and she had to keep her to deliver the work briefing to herself. It was really depressing!

With such a calculation, it seems that there are no beautiful women. Is it really hard to force a person to go on vacation?

Yang Cheng wants to cry without tears~

. . .

There was no one to accompany Yang Cheng on vacation, so he had to become a workaholic. He worked diligently for half a month. He clocked in at the company on time every day and handled daily briefings. He focused on Europa. To be precise, it is Switzerland at the foot of the Alps, because he knew that a major event that shocked the world was about to happen here.

But as the days passed, Yang Cheng's heart became more and more anxious, because the expected news has not yet been announced, and the Swiss side is calm and unreasonable. There is no sense of oppression of the mountains and the rain. When Orange wondered whether the original history was changed because of his arrival, the Swiss National Bank finally held a press conference today, on the morning of Wednesday, January 15.

At the press conference, the Swiss National Bank announced without warning that it would abandon the lower limit of the exchange rate of EUR/CHF 1.2000 and lower the interest rate. For a while, the global market was shaken, and Wall Street was wailing. The Swiss can take global speculators this time. It's miserable.

Just a few minutes after the statement was issued, the EUR/CHF exchange rate plummeted by about 30% and fell to 0.93 at one point. This immediately ended the calm situation in the Swiss foreign exchange market that had lasted for more than three years-the Swiss National Bank since September 2011 Has been intervening in the market since the beginning of the month to prevent the Swiss franc from rising too high, buying billions of euros to prevent the euro from falling below 1.20 Swiss francs.

It has to be said that in the eyes of Yang Cheng, who had already anticipated the results, the decision of the Swiss National Bank was no less than a “massage” for the entire financial and foreign exchange market, and it was a “tsunami” for the Swiss economy. When the central bank announced this news, the federal zf also had no knowledge of it and kept the whole world in the dark. Of course, Yang Cheng and his "friends" must be excluded here.

This decision not only caused heavy losses to many investment institutions, but even their own countries did not let go. The stock market fell sharply. The smi index, which is composed of blue chips, closed down 8.8%. At one time, it fell by more than 10%, the largest single day in 25 years. Major banks suffered the most from the decline. UBS and Credit Suisse plummeted 11%. In contrast, European stock markets bucked the trend. The reason was simple: safe-haven funds fled, causing oil prices to rebound and the euro to fall. , Which helps boost the performance of European exporters.

At a loss, investors can only hurriedly buy other top-rated bonds from the United States, Germany, and so on. At the same time, they are also waiting for whether the European Central Bank will resort to large-scale bond purchases to avoid the spread of deflation in the euro zone.

Of course, gold has always been a hard currency in times of economic crisis. After the news, the international gold price once climbed 3% to the highest level in four months. The euro-denominated gold rose to 1,093.55 euros per ounce in the intraday trading. This has been since May 2013. The highest, Yang Cheng did not buy less. They are all profitable. Of course they will not miss it. The monsters with more than 100 billion US dollars of funds are divided up and raging in major European markets with only one purpose-"grabbing money" .

The major media that responded quickly, especially the newspapers and periodicals under the New Times Media, expressed their views on the matter, focusing on reports that Deutsche Bank, UBS, Goldman Sachs, etc. Banks are scrambling to process orders. It is reported that at least one electronic foreign exchange trading system has suspended transactions, and major banks and their customers have lost billions of dollars in assets. Where did these billions go? Yang Cheng haha.

Major social media have also exploded, "Forex market tsunami!" "A Swiss franc catastrophe!" ... Twitter and Facebook are filled with such laments.

In Yang Cheng’s office, after watching the Swiss National Bank’s press conference with him, Ryze Khan wiped the cold sweat on the temples of his forehead, and asked very puzzled, “Boss, to be honest, I don’t quite understand why the Swiss National Bank Suddenly turning over, is it just because you don’t want to pay for Eurobank qe?"

The qe is the loose monetary policy that the European Central Bank is preparing to launch. Generally speaking, it is to increase the money supply in the market, such as directly issuing currency, buying bonds on the open market, reducing the reserve ratio and loan interest rates, etc. This will lead to small and medium-sized enterprises and individuals. It is easier to obtain loans from banks to promote economic development.

Yang Cheng turned off the TV, spreading his hands in the spring breeze, "According to my guess, this is true. The Swiss National Bank's move indicates that the European Central Bank will make a big move. The most likely is that qe will be launched soon, and there will be a lot of safe-haven funds Flocking to Switzerland, all fools know that the Swiss National Bank will be unable to take over. Instead of being forced to abandon the lower limit of the exchange rate, it is better to preemptively give up its commitment to maintain the lower limit of the exchange rate."

The Swiss National Bank has promised several times to maintain the 1.20 lower limit of the exchange rate between the euro and the Swiss franc at all costs, in order to prevent the appreciation of the Swiss franc from impacting Switzerland's export-oriented economy. In fact, the euro/CHF exchange rate has also been maintained near this level. It has been nearly three and a half years, so this time the sudden announcement of abandoning this lower limit surprised the market.

Yang Cheng turned his pen briskly, took a sip of coffee, and continued with a smile, “In order to maintain this lower limit, the Swiss National Bank has been buying large amounts of euro assets, which has put tremendous pressure on their foreign exchange reserves. It is understood that after the European Central Bank is preparing to implement qe, the cost of buying foreign exchange to prevent the Swiss franc from appreciating will become higher and higher.

In order not to suffer the consequences, from their point of view, it is understandable to announce this decision, but unfortunately it is other people. We Chinese have an old saying-people don't die for themselves! It seems that this sentence also applies to Swiss people, haha. "

He is quite complacent now. Although he still doesn't know how much money he will earn in the end, it is not a small amount. After he has money, what should he buy to reward himself, a super yacht? Caribbean island? Or a New Zealand ranch? Oops, I can't think about it anymore, I am drooling.

"Then the Swiss National Bank has completely abandoned its entry into the market to intervene?" Ritz Khan, who didn't wince, asked again.

Yang Cheng threw away his pen, and he was in a good mood. He didn't mind discussing with his capable cadres. By the way, he installed 13, "In my opinion, the Swiss National Bank is just transferring the direct instrument of exchange rate intervention from Euro/Swiss francs to USD/Swiss. Lang."

Ryze Khan twisted his brows tightly and looked a little confused. Yang Cheng made a gesture of peace and security, opened the USD/CHF exchange rate chart, pointed to the computer screen, and said, "In other words, This move by the Swiss National Bank should be a shock, and may increase its intervention in the US dollar/Swiss franc in the future, so as to realize the true intention of "curve to save the country".

In the past two years, the Eurozone debt crisis has not yet receded, and the Euro/Swiss franc equilibrium rate is still low. The Swiss franc has been subject to safe-haven buying demand brought about by emerging markets and geopolitical conflicts due to its safe-haven currency properties. Flow into Switzerland.

Especially in recent months, this trend has been particularly pronounced. Global risk assets have increased volatility. Driven by risk aversion, the Swiss franc exchange rate has been rising.

The Swiss National Bank has also paid a lot to defend the lower limit of EUR/CHF 1.20. Its foreign exchange reserves have been overloaded and reached an inflation level. Without transferring pressure, these foreign exchanges will eventually become a pile of waste paper or detonate itself. "

Yang Cheng walked around the desk, patted Ritz on the shoulder, leaned against the corner of the table and sipped coffee and added, “But if you take a step back, if the Swiss central bank continues to use interest rate control as a tool, as the Swiss National Bank continues to deepen negative interest rates. In the field, the proportion of Swiss franc deposits will be greatly reduced, and the euro/swiss franc will rise again to the 1.20 level after an initial decline, but more or hope that the dollar/swiss franc will regain in the next year Back to above parity."

Ryze is still puzzled, but is not ready to go into it. Anyway, 4D space is going to be famous this time. Of course, if there are pros and cons, I am afraid that after this time, 4D space will become the object of hatred in the hearts of countless hedge funds on Wall Street, because Yang Cheng not only didn't notify them to avoid danger in advance, but joined the massacre against them.

Of course, Yang Cheng has no guilt at all, except for sending them a good walk. She is greedy and stupid because she depends on others? Instead, they have this opportunity to make money, and they will not notify Yang Cheng. In fact, if it is not for insurance, even the old stock god, Yang Cheng does not plan to join the group. There is no better thing in this world than eating alone. .

Ritz followed with a smile, "Yes, but this sudden attack by the Swiss National Bank has caused miserable hedge funds that had been calling for trouble in the financial market. As of last week, the Chicago Mercantile Exchange data showed that leveraged investment Investors and asset management companies have been shorting the Swiss franc significantly before. Obviously, they have miscalculated the situation, believing that the Swiss National Bank regards the promise of defending the upper limit of the Swiss franc against the euro as a short-selling "copper wall".

This is good. Hedge funds have a short position of US$3.1 billion in Swiss francs, and I am afraid they will squeeze out a drop of their funds! "

Yang Cheng was quite regretful, "Unfortunately, we are mainly targeting the exchange rate against Europe this time. We did not focus on doing long Swiss francs. Otherwise, the 3.1 billion will be ours. By the way, remind the trader team to pay attention. In theory, Switzerland The central bank should continue its policy to prevent the Swiss franc from rising too quickly, and don't let them buy blindly."

Of course, when institutional investors were slaughtered by the Swiss National Bank and the foreign exchange market was full of grief, there were also a few big winners in the financial market who were hit by surprises, including Yang Cheng and a few guys who were hit in the head by pie. .

Ryze said again, "I will tell the boss to go down, and I will report another good news. We bought a 5 billion euro against franc put option at the first time of the layout. This position allows the holder to use the euro not Selling euros at a price lower than 1.20 Swiss francs is currently placed on the Depository and Settlement Company () for settlement at the end of January."

Yang Cheng looked up to the sky and smiled, "I see, except for the instant settlement orders, this position will undoubtedly make us more profitable."

After laughing, he lowered his head and thought for a moment, “After this position is profitable, stay in Europe and take the opportunity to buy stocks in a group of companies and banks, and focus on UBS and Credit Suisse.”

According to the current situation, unless the Swiss franc retreats significantly after the sharp appreciation on Thursday, Swiss companies will feel the pain caused by this appreciation for some time to come, and their stocks will continue to fall. As far as today is concerned, the share prices of UBS and Credit Suisse have both fallen by more than 10%. Needless to say, the two are denominated in U.S. dollars and euros. Therefore, the value of overseas earnings has been impaired by the appreciation of the Swiss franc. The stock price is naturally a scream.

Not only the banking industry, the strengthening of the Swiss franc is also a huge challenge for luxury exporters and other small and medium-sized companies. The most famous watch industry currently accounts for 1/10 of Swiss exports. Some of Swiss watches are well-known Brands including Rolex, Swatch’s Omega and Richemont’s Cartier have all experienced declines in their share prices, and their market value has evaporated by tens of billions of Swiss francs. However, these are the targets that Yang Orange is preparing to take the opportunity to start.

His goal is not to completely acquire, but to hold a certain proportion of shares in these famous luxury brands. It is another kind of investment to preserve value. At least before the World War, the stocks of these luxury brands were much stronger than Internet stocks.

Moreover, he is not going to transfer the money back to the United States. The greedy level of irs is even more than the top 50 rich people on the "submissive" list combined. Instead of contributing to irs, it is better to invest in these luxury brands and change shareholders. At least in the future, I will be able to stand up and walk on the Europa continent.

Especially the old-fashioned Germans and the arrogant French, for the shareholders of luxury goods groups, they are more important to the shareholders of the luxury goods group than those of the technology giants, because generally those who hold the stocks of these brands are the old aristocrats, and don't care about what the failure is. In this way, the glory of the nobility is still passed on. God knows how deeply the Europeans are obsessed with the title of nobility Ryze didn’t stay in Yangcheng after he was happy. There was still a lot of work waiting for him. Do, the high salary of the CEO is not affordable for ordinary people.

Yang Cheng checked the time, and when it was time to have lunch, he hadn’t waited to call Susu. The office door was pushed open again. It was Susu who came in, followed by Hansen and hadn’t seen him for a long time. Andrew a bit dark.

"Boss, I'm back, did you miss me?" Andrew shook off his steps, grinning, and rushing towards Yang Cheng with a big white tooth.

Yang Cheng didn't care about this guy's recklessness either, she also happily hugged the black bear, hammered the still-hard chest, and joked, "I heard Hansen say that you are playing in South Korea and don't want to come back? Are you planning to marry a Korean woman as your wife? Report to me how many girls have been harmed for so long?"

Andrew yelled aggrievedly, "Shit, it was Hansen who framed me. He absolutely envied the girl who liked me and didn't like him. He deliberately discredited me. Boss, I think about you day and night, and I want to fly back and fly back. Follow you around."

Yang Cheng laughed and waved his hand, "Come on, you are already dark enough, no need to be wiped off by others, and don't talk to me about thinking about it day and night, I can guarantee that, except for the salary, your brain is full of jing worms. , Will never think of me, not even a second."

Da Lao Hei's head was still a little awkward, and he didn't learn to be a trap. He was pierced by Yang Cheng to think carefully. He touched the back of his head awkwardly, and he knew silly joy with his big white teeth.

Yang Cheng kicked him angrily, and began to care about his'national treasure', as if a machine gun fired, suddenly asked, "Okay, is the trip to the UK going well this time? Why did it take so long? Did you get everything?"

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