Switzerland's financial regulator made a significant decision that had a major impact on the bond market, particularly affecting investors in a high-risk pool of Credit Suisse bonds.

This decision resulted in significant losses for bondholders as the regulator declared these bonds to be worthless after UBS Group AG took over Credit Suisse in an emergency takeover.

The aftermath of this ruling has caused widespread outrage among the investment community, highlighting the risky nature of such financial instruments. It has also raised concerns about the stability of the bond market and the potential consequences of future regulatory actions following banking crises.