The Swiss National Bank recently brought specialists to the table to break down something that's been reshaping markets since last September: the growing divide between how the US and Eurozone are handling interest rates.

This divergence isn't just academic talk—it's been the undercurrent pulling different asset classes in opposite directions. While one region tightens, the other might be signaling different priorities. That gap? It compounds over time and affects everything from forex flows to how capital redistributes across markets.

What makes this particularly worth watching: central bank divergence historically creates volatility spikes. When the Fed and ECB dance to different beats, liquidity flows shift, risk appetite changes, and volatility indexes tend to spike. For anyone holding positions across multiple regions or tracking macro trends, understanding this rate trajectory divergence from the September snapshot is crucial.

The conversation centered on how these interest rate paths have continued their separate trajectories. Neither side has blinked or converged back toward the other—meaning this structural split in monetary policy is real and ongoing.