Tag Archives: Swiss National Bank

The increasing volatility of SNB Earnings Annual results are not really definite. Given that the SNB accumulates foreign currencies with interventions, they have huge swings. But in 2017, the picture is changed. Assuming a “biblical” cycle of seven good years and seven bad years, the SNB could now increase profits every year – thanks to a weaker franc and the seven good years. … until the next recession comes and the...

An employee of MAN Diesel & Turbo Switzerland grinds turbine blades of a turbo compressor in Zurich in 2015 (Keystone) - Click to enlarge The recent appreciation of the Swiss franc has sent shockwaves through Swiss firms, resulting in job losses and lower research budgets. But viewed long-term, Switzerland’s export-driven economy has adapted remarkably well to a strong currency. This is the overall...

Lately, one of my biggest duds of a call has been for the yield curve to steepen. Sure, I have all sorts of fancy reasons why it should steepen, but reality glares back at me in black and white on my P&L run. Sometimes fighting with the market is an exercise in futility. Now I know many of your eyes glaze over when I start talking about different parts of the yield curve flattening or steepening, but I urge you to...

Third banknote in latest series showcases Switzerland’s organisational talent - Click to enlarge The Swiss National Bank (SNB) will begin issuing the new 10-franc note on 18 October 2017. Following the 50-franc and 20-franc notes, it is the third of six denominations in the new banknote series to be released. The current eighth-series banknotes will remain legal tender until further notice. The inspiration behind...

It has now been 318 trading days since the S&P 500 suffered a 5% drawdown – the 4th-longest streak since 1928… So everything is awesome… [embedded content] BUT…US ‘hard’ economic data has not been this weak (and seen the biggest drop) since Feb 2009… US Data Surprise Index, 2006 - 2017 - Click to enlarge Q3 Was a Roller-Coaster… Q3 was the 8th straight quarterly gain in a row for The Dow – the longest streak...

The price of shares in The Swiss National Bank is up 11 days in a row, soaring 150% in the last two months. SNB Stock Price, 2010 - 2017(see more posts on Swiss National Bank Stock, ) - Click to enlarge That sounds like a ‘tulip’ bubble-like ‘fraud’… Bitcoin and SNB, 2013 - 2017(see more posts on Bitcoin, Swiss National Bank Stock, ) - Click to enlarge The SNB is up over 120% in Q3 so far – more than double...

“Like watching paint dry,” is how The Fed describes the beginning of the end of its experiment with massively inflating its balance sheet to save the world. As former fund manager Richard Breslow notes, however, Yellen’s decision today means the risk-suppression boot is on the other foot (or feet) of The SNB, The ECB, and The BoJ; as he writes, “have no fear, The SNB knows what it’s doing.” As we reported previously, In...

A week ago we tweeted… Dear @SNB_BNS_en – you are the next bitcoin: congratulations pic.twitter.com/cld4YNbNLb — zerohedge (@zerohedge) September 14, 2017 But as Bitcoin rebounded from its China challenges, it overtook The SNB once again as bubbliest bubble. However, a 13% spike in the share price of The Swiss National Bank today has put an end to that leaving the central bank back in first place among the...

A day after Bridgewater Associates Founder Ray Dalio claimed that bitcoin was “definitely in a bubble” partly because he said the digital currency was too difficult to spend, CoinTelegraph is reporting that the first-ever bitcoin-only real-estate transaction has been completed in Texas. The transaction “illustrates crypto’s potential to transform how financial transactions are conducted,” according to Futurism.com. The...

This week attention will fall on US FOMC rate decision, BoJ policy rate announcement, German and NZ elections. Economic data releases include PMI in the Euro area, retail sales in the UK and existing home sales in US. In Emerging Markets, there are monetary policy meetings in South Africa, Indonesia, Hungary, Taiwan and Philippines. BofA highlights the week's key global events: Central bank meetings: US FOMC and BoJ The Fed will make policy announcement on Wednesday. Balance sheet...