Fallout From Historic Swiss Franc Move Continues, Swiss Pensions Hard Hit

The fallout from the historic move in the Swiss Franc on January 15 is continuing to be felt, with hedge funds, pension funds and other institutions revealing staggering losses, some that are forcing the doors to shutter, while Swiss pension funds are suffering to the tune of $30 billion.

As some investors were dealt a death blow by the move, and others damaged but still standing, if not staggering, after the blow, what caused the move is becoming increasingly clear. After receiving a private glance at the ECB’s plan for stimulus in the euro zone – and with growing economic pressure from weaker countries demanding special terms or bailouts – the Swiss National Bank decided it was time to...