While not the usual thing YieldReport publishes, this report was worthy of a wry smile.
Apparently, 500 euro notes were found at a UBS bank branch in Geneva in one of the washrooms (toilets). Not just one or two; lots of them. The reports said the bathroom is close to the safe deposit vault but whether this detail is of any consequence is unknown.
A few days later more notes were found in toilets of nearby restaurants. Some had been cut with scissors but they were otherwise described as “soiled”. Some people like to light their cigars with bank notes as an act of decadence. Were the notes “used” in an act of decadence? Or in desperation? In any case, the notes had clogged the pipes. Perhaps it was just a case of someone flush with cash.
Swiss police are investigating. They said the whole thing smells funny.