A 40 percent “flash crash” in a major currency is as statistically rare as free markets allowing themselves to be distorted for too long without punishment. Watch out, because when Mr. Free Market does take control, the more manipulation the worse the correction becomes.
Such is the case with the move in the Swiss Franc, which had winners and losers. A research brief from Lyxor Asset Management's Managed Account platform says the winners in the Swiss Franc flash crash were managed futures CTAs as the report points to the key value metric explaining why the
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