by Chris Gaffney
Daily Pfennig
Good morning. Chuck had an early appointment at the infusion center so he asked me to put together this morning’s Pfennig. But before you get too upset about not getting your dose of Chuck on this Thursday morning he did share some thoughts and an article for the FWIW section. But before we get to Chuck’s thoughts let’s look at what is happening in the markets this morning.
The headlines this morning are all about central bank policy meetings which are happening this morning over in Europe. The Swiss National Bank started things off this morning with a ‘non-move’. The SNB kept their rates at a negative .75% but confirmed that they stand ready to intervene in the currency markets if/when needed.