I work in money management (Series 65 holder) and I was talking to the chief analysts of our RIA today. We use structured notes as an funding tool and one poor sap in our enterprise had structured notes with CS. Anywho, we got to chatting about the situation and this is what he said (keep in mind, absolutely NOBODY in my work knows I’m an ape): “Swaps are currently obliterating banks, in fact, the 100B liquidity lifeline given to CS was to cover their MASSIVE swap positions/premiums. More swap destruction is to come”. 100 BILLION JUST TO COVER CS SWAP POSITIONS – holy shit boys who would have predicted this 🤔🤔🤔