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While we wait to see if the Swiss National Bank opts for zero or negative policy rates next month, its chief Martin Schlegel had a lot to say yesterday about a range of topics, including negative prices, Treasury bonds, and global risks. Jamie Dimon then today chimed in today cautioning that stocks and risk markets are ready for heightened credit risks. One reason why is volatility in repo, where TIC data shows a huge increasing in offshore resales heading into everything April. 

Eurodollar University's Money & Macro Analysis

Bloomberg Dimon Warns Markets Are Underestimating Geopolitical, Inflation Risks
https://www.bloomberg.com/news/articles/2025-05-19/jpmorgan-s-dimon-warns-against-complacency-amid-mounting-risks

Bloomberg Swiss Inflation Risks Falling Below Zero in Individual Months This Year, Schlegel Says
https://www.bloomberg.com/news/articles/2025-05-19/snb-chief-sees-subzero-inflation-in-individual-months-this-year

Bloomberg SNB President Schlegel Sees No Alternative to US Treasuries
https://www.bloomberg.com/news/articles/2025-05-19/snb-president-schlegel-sees-no-alternative-to-us-treasuries

Bloomberg Singapore Central Bank Chief Says US Dollar Assets Irreplaceable
https://www.bloomberg.com/news/articles/2025-05-20/singapore-central-bank-chief-says-us-dollar-assets-irreplaceable

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