Market overview
Swiss central bank sends shock waves through the financial markets
The ECB announces a large QE programme, exceeding expectations
Oil prices have probably bottomed
Interest rate hedging
We recommend marginal overweight duration on the EUR curve
Interest rate exposure should be locked-in across the USD curve
FX hedging
EUR/USD set to fall over the coming six months
We recommend hedging USD-denominated income via option strategies
USD-denominated expenses should be hedged via FX forwards
To Read the Entire Report Please Click on the pdf File Below