SNB & CHF

Summary The Hungarian central bank capped the amount commercial banks can keep at its 3-month deposit facility. S&P upgraded Hungary from BB+ to BBB- with stable outlook. Bank of Israel will move to 8 meetings per year starting in 2017, down from 12 currently. S&P raise the outlook on Russia’s BB+ rating from negative to stable. The South African Reserve Bank signaled a potential end of the tightening...

Swiss Franc EUR/CHF, September 23, 2016Click to enlarge. FX Rates As Nassim Taleb instructed, we should not be fooled by randomness. If you see six red results in a row at a roulette table, do not conclude the game is rigged. If you flip a coin, and it is tails six consecutive times, the contest is not necessarily rigged. Today has the making of the sixth consecutive Friday that the dollar gains against the euro...

Submitted by ‘Kevnice’ via ForeignByNature.com, In April 2012, I returned to Switzerland – my country of birth – to commence a new phase of my adult life. Naturally, one of the first steps to undertake when establishing oneself in a new country is to open a bank account. I went down to the local Raiffeisen bank branch in the village of Aesch, Luzern, where my relatives and ancestors had lived and worked as farmers for...

As I noted on Thursday, the Fed non-announcement gave the bulls a reason to charge back into the markets as “accommodative monetary policy” is once again extended through the end of the year. Of course, it is not surprising the Fed once again failed to take action as their expectations for economic growth were once again lowered. Simply, with an economy failing to gain traction there is little ability for the Fed to...

Subscribe and share the RTD interviews and news articles... Thanks for watching this interview with author and monetary enthusiast Charles Hugh Smith. Share your thoughts below and give us a thumbs up if you enjoyed this conversation. Interview w/ Charles Hugh Smith on 8/13/15 RTD Ep:20 "Currency Created Out Of Thin Air" - Charles Hugh Smith (Why Things Are Falling Apart) https://youtu.be/JkCaYBGkWak In this interview we discuss: 1. What are some major concerns on Charles Hugh Smith's...

If it isn’t a Depression, it’s a very close relative of a Depression. Just for the sake of argument, let’s ask: what if we’re in a Depression but don’t know it? How could we possibly be in a Depression and not know it, you ask? Well, there are several ways we could be in a Depression and not know it: 1. The official statistics for “growth” (GDP), inflation, unemployment, and household income/ wealth have been...

SMI The Swiss Market Index is set to finish the week notably higher, although under-performing global stocks amid optimism that central banks will continue to support equities by keeping interest rates at historic lows and providing markets with additional liquidity. Click to enlarge. Economic Data Global equities experienced a “relief rally” after crucial central bank policy meetings in Japan and the US indicated...

Swiss Franc Once again the Swiss Franc was the strongest. The EUR/CHF depreciated to 1.0875. As said yesterday, the reasons: the Fed and the strong Swiss trade balance. Click to enlarge. FX Rates The US dollar has lost another 0.5% against most of the major currencies today, as Asia and Europe respond to the Fed’s decision. There are few exceptions to this generalization. The Norwegian krone has gained nearly...

Without the stimulus of ever-rising credit, the global economy craters in a self-reinforcing cycle of defaults, deleveraging and collapsing debt-based consumption. In an economy based on borrowing, i.e. credit a.k.a. debt, loan defaults and deleveraging (reducing leverage and debt loads) matter. Consider this chart of total credit in the U.S. Note that the relatively tiny decline in total credit in 2008 caused by...

Julius Baer Group Ltd. said Asia may overtake Europe as its biggest revenue-generating region, as the Swiss wealth manager steps up hiring in Hong Kong and Singapore. “In the next five years, Asia could be the biggest region for us if we grow at double-digit” rates, Chief Executive Officer Boris Collardi said Wednesday in an interview in Singapore. More than half of about 200 new bankers that Julius Baer plans to hire...