SNB & CHF

Brexit Risks Increases – London Property Market and Pound Vulnerable  – Brexit uncertainty deepens as UK government in disarray– BOE warns of earlier and larger rate hikes for Brexit-hit UK– UK property prices fall second month in row, London property under pressure – No deal Brexit estimated to cost UK £80bn according to government analysis – Transition period causing major uncertainty for UK and pound – Pound expected...

There is no change to the risk budget this month. For the moderate risk investor the allocation to bonds is 50%, risk assets 45% and cash 5%. Despite the selloff of the last week I don’t believe any portfolio action is warranted. While the overbought condition has largely been corrected now, the S&P 500 is far from the opposite condition, oversold. At the lows this morning, the S&P 500 was officially in...

Swiss Franc The Euro has fallen by 0.43% to 1.152 CHF. EUR/CHF and USD/CHF, February 08(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The swings in the equity markets are subsiding, bond yields are firm and the US dollar is extending its recovery. Although US equities closed lower, the MSCI Asia Pacific Index snapped a four-day drop by posting a 0.25% gain. However, the...

Summary: The major currencies but the Canadian dollar peaked Jan 25-26. The Australian dollar has fallen the most since peaking. Many are still viewing the dollar’s recovery as technical in nature and not a turn in the trend. This Great Graphic was created on Bloomberg. It shows five major currencies against the US dollar this year. To avoid giving a misleading impression, the currencies are index to start...

Where did the wood come from? Swiss consumers have the right to know. (Keystone) - Click to enlarge Five out of six Swiss companies selling wood or wooden products fail to declare the type and origin of the wood correctly – despite a legal requirement that has been in place since 2012. As the Federal Consumer Affairs Bureauexternal link announced on Tuesday, it conducted 120 inspections last year and found...

The so-called Schweizerhalle, a Novartis factory in Muttenz (© KEYSTONE / GEORGIOS KEFALAS) - Click to enlarge Greece’s parliament has linked ten prominent politicians to a bribery scandal involving Swiss drug-maker Novartis. The Greek parliament announced on Tuesday the results of a judicial investigation into alleged bribes paid to public officials by Basel-based Novartisexternal link over nearly a decade...

Peak Gold: 2017 Supply Flat As China Output Falls By 9% – China gold production falls by 9% to 420.5t in 2017– Chinese gold demand rose 4% to 953.3t in same period– China is largest producer and accounts for 15% of global gold production– China does not export gold. Increasing foreign gold acquisitions to meet demand– Global gold production flat – 3,269t in ’17 from 3,263t in ’16, smallest increase since ’08– Peak...

US imports rocketed higher once again in December, according to just-released estimates from the Census Bureau. Since August 2017, the US economy has been adding foreign goods at an impressive pace. Year-over-year (SA), imports are up just 10.4% (only 9% unadjusted) but 9.3% was in just those last four months. For most of 2017, imports were flat and even lower. The question is, obviously, what has changed? Did the boom...

Feb.07 -- Marc Chandler, global head of currency strategy at Brown Brothers Harriman, discusses the bond market and which yield curve he focuses on. He speaks with Tom Keene and Francine Lacqua on "Bloomberg Surveillance."

Swiss Franc The Euro has risen by 0.18% to 1.1602 CHF. EUR/CHF and USD/CHF, February 07(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates After a volatile session in North America, the major equity indices closed higher. In fact, the 1.75% rise in the S&P 500 was the best since November 2016. Asian equities stabilized, and the MSCI Asia Pacific Index was able to eke out...