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Bloomberg.com, and of course, on the Bloomberg. John Farrell, you have a story out from Credit Suisse and basically what this is about

is a E.T.N. A Vix product moving from 110 to 15. Yeah, it's a short volatility

product. So basically Credit Suisse has two of these exchange-traded notes that

basically mirror the inverse performance of the

of the volatility index what we call the Vix time so quite clearly as the Vix has

exploded from like 8 in January to 50 on the screen at the moment these exchange

traded notes have been absolutely hammered.

The big question now is whether they actually consider a redemption of the volatility note,

and what we understand, according to a person familiar with the situation is that Credit Suisse

are indeed doing that which is why I'm really happy to say that Dean Kernad is with us.

Credit Suisse has stocked down like almost 4% on my screen was as low as 8.5%.

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