IMPACT OF SWISS MOVE ON BANKS IN OUR PORTFOLIO $JPM $SAN $BAC $BBD $C $ITUB $ZION
This post was just published on ZYX Buy Change Alert. Banks in our portfolio include BAC, BBD, C, ITUB, JPM, SAN, and ZION. The Swiss National Bank removing franc’s peg to euro resulted in extreme volatility in forex. The impact on the banks in our portfolio is not know at this time. It is important to note that these banks have huge balance sheets and can easily handle losses. There is no way of knowing because we do not know what the banks’ forex inventory was yesterday morning. However, if there is an adverse effect, that will be short-term and provide a buying opportunity.