SNB & CHF

Summary: FOMC meeting is the last highlight of the year. OPEC and non-OPEC producers strike a deal: optics good and that can lift prices further in near term. Italy will have a new Prime Minister, the fourth unelected PM. Provided that the Federal Reserve delivers the widely tipped and expected 25 bp hike in the Fed funds target range, the key to investors’ reaction will be a function of the FOMC statement and...

Summary: FOMC meeting is the last highlight of the year. OPEC and non-OPEC producers strike a deal: optics good and that can lift prices further in near term. Italy will have a new Prime Minister, the fourth unelected PM. Provided that the Federal Reserve delivers the widely tipped and expected 25 bp hike in the Fed funds target range, the key to investors’ reaction will be a function of the FOMC statement and...

Stock Markets After the ECB meeting, we saw curve steepening in the eurozone. This is on top of curve steepening in the US since the elections. While we are nowhere near the magnitude of the 2013 Taper Tantrum, these yield curve dynamics remain negative for EM bonds and EM FX. EM equities are a different matter, supported in part by the continued post-election rally in DM equity markets. Higher commodity should also...

Stock Markets After the ECB meeting, we saw curve steepening in the eurozone. This is on top of curve steepening in the US since the elections. While we are nowhere near the magnitude of the 2013 Taper Tantrum, these yield curve dynamics remain negative for EM bonds and EM FX. EM equities are a different matter, supported in part by the continued post-election rally in DM equity markets. Higher commodity should also...

© Pincasso | Dreamstime.com - Click to enlarge Credit Suisse Group AG is preparing a new cost-savings program that puts as many as 1,300 jobs in Switzerland on the line, according to Schweiz am Sonntag. The plan will be announced Wednesday, when the lender holds its investor day in London, the newspaper said, without saying where it got the information. Credit Suisse’s Swiss unit may slash an additional 1,000 to 1,300...

© Pincasso | Dreamstime.com - Click to enlarge Credit Suisse Group AG is preparing a new cost-savings program that puts as many as 1,300 jobs in Switzerland on the line, according to Schweiz am Sonntag. The plan will be announced Wednesday, when the lender holds its investor day in London, the newspaper said, without saying where it got the information. Credit Suisse’s Swiss unit may slash an additional 1,000 to 1,300...

Swiss Franc Currency Index The Swiss Franc index remained in a losing position compared to the dollar index. However since November 25, it has remained stable. Given that the ECB extended the QE period, the EUR/CHF has fallen to 1.0730 again. Trade-weighted index Swiss Franc, December 09(see more posts on Swiss Franc Index, ) Source: FT.com - Click to enlarge Swiss Franc Currency Index (3 years) The Swiss...

Swiss Franc Currency Index The Swiss Franc index remained in a losing position compared to the dollar index. However since November 25, it has remained stable. Given that the ECB extended the QE period, the EUR/CHF has fallen to 1.0730 again. Trade-weighted index Swiss Franc, December 09(see more posts on Swiss Franc Index, ) Source: FT.com - Click to enlarge Swiss Franc Currency Index (3 years) The Swiss...

With this list of manifestations in hand, we can practically write the headlines for 2017-2025 in advance. How would you describe the social mood of the nation and world? Would anti-Establishment, anti-status quo, and anti-globalization be a good start? How about choking on fast-rising debt? Would stagnant growth, stagnant wages be a fair description? Or how about rising wealth/income inequality? Wouldn’t rising...

With this list of manifestations in hand, we can practically write the headlines for 2017-2025 in advance. How would you describe the social mood of the nation and world? Would anti-Establishment, anti-status quo, and anti-globalization be a good start? How about choking on fast-rising debt? Would stagnant growth, stagnant wages be a fair description? Or how about rising wealth/income inequality? Wouldn’t rising...