What if SNB cuts to zero and resumes FX sales to cap franc strength?
The Swiss National Bank eases to the floor and sells francs to counter haven-driven appreciation, a dovish-FX combo that weakens the franc and supports Swiss exporters and risk.
how we built this number — every step
The class rate is measured from our dated, sourced event library (decade-normalized Poisson — the full table is public at base_rates.json). The variant’s share within its class is the analyst’s editorial call, published so you can audit it. A wider range means thinner precedent. Full recipe: methodology · scored at Reality Check.
The butterfly cascade
How this trigger trickles across markets, left → right — the root shock, its first‑order moves, then the ripple effects. Drag any node; tap a market for its real price history.
Resolution timeline — how this probability is moving
Our model's odds (gold) over time vs the crowd's (Polymarket, blue), from the past toward the 6–18 months horizon. Each dot is a real macro event that nudged the probability — green pushed it up, red pushed it down. Tap a dot for the source. The gold path is an illustrative reconstruction anchored to today's estimate — real dated events, not a live re-estimate history.
What it would mean
If this plays out, it is a risk-on shock. The Swiss National Bank eases to the floor and sells francs to counter haven-driven appreciation, a dovish-FX combo that weakens the franc and supports Swiss exporters and risk. The trigger decomposes into signed root‑shocks — US dollar (DXY) ▲ · Volatility (VIX) ▼ · Fed policy path ▼ · Risk appetite ▲ — which propagate through our causal graph to the markets below.
If it happens — the markets it would move
Biggest moves first. Projected moves are cascade-model priors; hist A–B% = what comparable past events actually did (measured abnormal returns), and model prior · unmeasured marks markets with no analogue backing yet. Tap any market for its price history.
| Market | Class | Projected move | |
|---|---|---|---|
| 1 | MicroStrategy MSTRon Hyperliquid 📈 chart | Equity | ▲ +0.8% hist -5.92–+14.2% · other way -7.95% (n=7) |
| 2 | Solana SOLon Hyperliquid 📈 chart | Crypto | ▲ +0.7% hist -4.31–+9.46% · other way +20.8% (n=5) |
| 3 | Nasdaq 100 NDXon Hyperliquid 📈 chart | Index | ▲ +0.6% hist -0.07–+0.94% · other way +0.47% (n=9) |
| 4 | Volatility (VIX) VIXon Hyperliquid 📈 chart | Vol | ▼ -0.6% hist -1.38–+2.27% · other way +0.81% (n=8) |
| 5 | Hyperliquid (HYPE) HYPEon Hyperliquid | Crypto | ▲ +0.6% model prior · unmeasured |
| 6 | Ether ETHon Hyperliquid 📈 chart | Crypto | ▲ +0.5% hist -0.41–+1.58% · other way +3.64% (n=5) |
| 7 | Tech sector XLK 📈 chart | Equity | ▲ +0.5% hist -0.28–+1.19% · other way -0.14% (n=7) |
| 8 | Bitcoin BTCon Hyperliquid 📈 chart | Crypto | ▲ +0.4% hist -0.28–+1.13% · other way -6.75% (n=6) |
| 9 | S&P 500 SPXon Hyperliquid 📈 chart | Index | ▲ +0.3% hist -0.31–+1.74% · other way -3.14% (n=12) |
| 10 | Coinbase COINon Hyperliquid 📈 chart | Equity | ▲ +0.3% hist -3.86–+8.02% · other way +13.3% (n=4) |
| 11 | 2y Treasury yield DGS2 | Rate | ▼ -2bp model prior · unmeasured |
| 12 | 30y Treasury yield DGS30 📈 chart | Rate | ▼ -2bp hist -2.99–+4.11% · other way +20.2% (n=12) |
| 13 | High-yield credit HYG 📈 chart | Rate | ▲ +0.2% hist -0.29–+0.17% · other way -0.18% (n=6) |
| 14 | Semiconductors SMHon Hyperliquid 📈 chart | Equity | ▲ +0.2% hist -0.49–+1.81% · other way -1.75% (n=7) |
Probable recommendation
Historical precedent — what analogous events actually did
Across 40 analogous events (overlap‑weighted), as abnormal returns — market beta stripped, so it's the event's own effect, not the market backdrop. Shown at 20 days (persistent) and 5 days (immediate); ↺ fades = the two horizons disagree. Confidence = consistency × sample × significance.
| Asset | History says | Abnormal (20d · 5d) | Hit | n | Confidence | vs cascade |
|---|---|---|---|---|---|---|
| SPX SPX | LONG | +1.4% · 5d +0.9% | 67% | 40 | 0.32 | ✓ matches cascade |
| SMH SMH | LONG | +1.6% · 5d -0.2% ↺ fades | 62% | 40 | 0.22 | ✓ matches cascade |
| High-yield credit HYG | SHORT | -0.3% · 5d +0.0% ↺ fades | 63% | 39 | 0.19 | ⚠ differs |
| 10y yield DGS10 | LONG | +7bp · 5d +0bp | 62% | 40 | 0.19 | ⚠ differs |
| Gold XAU | SHORT | -0.5% · 5d -0.5% | 58% | 40 | 0.13 | · |
| MSTR MSTR | LONG | +13.3% · 5d -2.0% ↺ fades | 53% | 40 | 0.07 | ✓ matches cascade |
| ETH ETH | LONG | +1.2% · 5d -3.5% ↺ fades | 54% | 38 | 0.06 | ✓ matches cascade |
| Volatility VIX | LONG | +2.5% · 5d -2.8% ↺ fades | 53% | 40 | 0.05 | ⚠ differs |
| 30y yield DGS30 | LONG | +5bp · 5d -1bp ↺ fades | 53% | 40 | 0.05 | ⚠ differs |
| NDX NDX | LONG | +0.6% · 5d -0.7% ↺ fades | 51% | 40 | 0.02 | ✓ matches cascade |
| SOL SOL | LONG | +8.9% · 5d -1.5% ↺ fades | 46% | 32 | 0.00 | ✓ matches cascade |
| XLK XLK | LONG | +0.9% · 5d -0.1% ↺ fades | 44% | 40 | 0.00 | ✓ matches cascade |
| Bitcoin BTC | LONG | +0.9% · 5d -2.7% ↺ fades | 44% | 38 | 0.00 | ✓ matches cascade |
| COIN COIN | LONG | +7.7% · 5d +1.1% | 46% | 25 | 0.00 | ✓ matches cascade |