The Swiss National Bank’s shocking decision last week to scrap the cap that was preventing the Swiss franc from appreciating to more than 1.20 to the euro continues to play out in the markets.
The past couple of weeks had been relatively quiet for Russia and Ukraine due to the Russian orthodox Christmas holiday, but this week the rollercoaster started again.
“Fake havens” have mushroomed in the continuous search for safe investments that offer some yield, after years of money-printing by the world’s major central banks.
But investors should be wary of them, says Alberto Gallo, a strategist with RBS. He lists five fake havens that could suffer a correction in the coming months.