Contagion: Chain Reactions and the CoCo Powder Keg
Many Happy Returns
The Unholy Trinity of Financial Contagion
This weekend felt a little bit like Switzerland's version of the Lehman weekend. I mean, it seems like every Sunday night, something ridiculous happens just before the markets are about to open. It's weird how they always sort of resolve these banking crisis on weekends, isn't it? Like the market closed on Fridays and regulators like everything's fine guys, no panic. Then we hear on Sunday night that, oh, a globally systemically important bank has just been thrown into another one.
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