Looks like Credit Suisse really messed up . See how vix is dropping and markets are rising . What did you expect ?
PAR10:42:33 GMT - 02/06/2018
Credit Suisse Shares Slide Amid Concern Over Pre-Market Plunge in VIX ETN
Credit Suisse says there will be no "material" impact to its business from the VelocityShares Daily Inverse VIX Short Term ETN after it plunges 85% in pre-market trading.
One of the bank's risk products, an exchange traded note known a the Credit Suisse AG - VelocityShares Daily Inverse VIX Short Term ETN, was marked nearly 85% lower in pre-market trading Tuesday. The note is designed to mimic, in reverse, moves in futures contracts tied to the broader market's key benchmark for near-term volatility, the CBOE's VIX index. Its declines have raised concerns about a so-called termination event if the losses persist throughout today's session in order to prevent the note from having a negative value.
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