SNB & CHF

The US dollar is retracing part of its pre-weekend losses against the European currencies and dollar-bloc today while falling equity prices are underpinning the yen.   Brent is nearing $40 a barrel, and WTI is pushing through $36.   Iron ore prices were limit up in China.  US 10-year Treasury yield is three bp higher to poke through 1.90% level for the first time since February 4.  European bond yields are mostly 2-3 bp lower, with notable exceptions of  Portugal and Greece. The US...

Swiss pharmaceutical company Roche is researching medication that could help to improve the characteristic symptoms of Down's syndrome. But does everyone want it? (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website:...

It’s nearly four decades since Rolf Lyssy’s film ‘The Swissmakers’ poked fun at the Swiss for making it so hard to get a passport. But have things really changed that much? (RTS/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website:...

Pharmaceutical giant Novartis is celebrating its 20th birthday, and analysts say it is a big success. But the company has had its fair share of scandals, and when it was founded, many critics said it wouldn’t last. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe...

07.03.2016 09:15  - FSO, Tourism (0353-1602-30) Statistics on tourist accommodation in January 2016 Marked decline in overnight stays in January Neuchâtel, 07.03.2016 (FSO) – The Swiss hotel industry registered 2.6 million overnight stays in January 2016, which corresponds to a decrease of 6.8% (-189,000 overnight stays) compared with January 2015. Foreign demand generated 1.3 million overnight stays, i.e. a decline of 8.4% (-120,000 overnight stays). Domestic visitors registered also 1.3...

So the price of silver rocketed up 80 cents, while the price of gold jumped $37. Silver is now more expensive than it was two weeks ago; the price decline of last week was more than overcompensated. This pushed the gold-silver ratio down about two whole points, with virtually the whole move on Friday. Last week, we said this: Monetary Metals has been predicting a ratio well over 80 for a long time. And for two months, we have been calling for it to go much higher still. Could there be a...

Risk sentiment ended last week on a strong note, and that should carry over into this week.  The global liquidity backdrop remains positive for EM, with the ECB widely expected to add more stimulus on Thursday.  In a similar vein, the Fed is widely expected to remain on hold until June.   China is doing its part to prevent negative market impact from developments there, including reports of intervening to support the equity markets last week.  Lastly, commodities remain bid and WTI oil made...

Sometimes the news stream drives prices, and sometimes the price action drives the narratives.  We argued that the sharp decline in equities at the start of the year was fanned the doom and gloom in the media and market commentary.  Many had been taking about a new financial crisis and parallels were drawn between the price action now and the 2007-2008 period. Perhaps it was the green shoot of spring flowers in the Northern Hemisphere.  Perhaps it was the realization that the sell-off was...

It is common knowledge by now that Federal Reserve Chairman Alan Greenspan oversaw, enabled and approved of, a major transition in the US economy. His infamous “Greenspan-put” in which his actions at the central bank would be driven, if not dictated, by the whims of financial markets, clearly led to higher asset prices. Investors obviously picked up on the strong bias in the Greenspan-Fed’s conduct of monetary policy as they slashed rates at the tiniest hiccup in financial markets, and...

The US dollar fell against all the major and most of the emerging market currencies last week.   Risk appetites have been rekindled, and the yen has gone from the best performer in recent weeks to the worst over the past week.   Major equity markets advanced for the third week.  The MSCI Emerging Market equity index has rallied more than 15% since the January 21 low, and nearly 12% since the February 11 low.  The index finished the week at its best level since January 4.  Oil prices are...