Central Banks Scramble to Process Swiss Franc Move, Markets Update

U.S. markets opened higher Tuesday to start the day, then fell, as investors turned to the annual Davos economic conference to seek for clues next. Paul Christopher, Head of International Strategy, Wells Fargo Investment Institute, says the faith in central bank forward guidance has been shaken in Europe by the surprise Swiss currency move, and that investors are still trying to process second-order effects of falling oil. Tuesday just served as another reminder of 2015's volatility compared to the previous year. Christopher says oil prices could have a transitory disinflationary impact over time.