The Swiss franc’s recent run-up riled policy makers at the nation’s central bank. While most of the blame for the strength has been pinned on traders testing the SNB’s commitment to ultra-loose monetary policy and an interventionist currency stance, another potential culprit has emerged. SoftBank Group is inadvanced talks to buy a stake in Zurich-based reinsurer Swiss Re that could fetch $10 billion or more, the Wall Street Journal reported Wednesday. Swiss Re confirmed the talks , while saying they were preliminary. The further along they are, the more likely SoftBank would start hedging.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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