Tag Archives: Swiss National Bank

Late 2014/early 2015 will perhaps be the closest to a real recovery from the Great “Recession” we shall see in this cycle.  Q1 2015 marked the peak year over year growth rate of GDP in this recovery at 3.76%. That rate compares quite unfavorably with even the feeble post dot com crash recovery high of 4.41% in Q1 2004. It doesn’t even come close to the routine 4-5% year over year growth rates we saw in the late 90s....

Authored by Marcia Christoff-Kurapovna via The Mises Institute, “Switzerland will have the last word,” wrote Victor Hugo in the late 19th century. “It possesses one of the most perfect forms of government in the world.” A contemporary of his, Frederick Kuenzli, a scholar of the Swiss Army, boasted: “No purer type of Republican ideals, no more fixed and devoted adherence to those ideals can be found in all the world...

In a CEPR discussion paper, Cedric Tille argues that Switzerland’s international linkages have been transformed over the last decade. Abstract: - Click to enlarge Over the last decade, the economic linkages between Switzerland and the rest of the world have been transformed. First, merchanting and the chemical industry account for an increasing share of international trade, with chemicals exports expanding...

Overnight, the Swiss National Bank disclosed the composition and breakdown of its FX reserves as of June 30. There were no notable changes, as the central bank kept most of its asset allocations unchanged from the previous quarter, with equities, government bonds and “other bonds”, at 20%, 68% and 12% respectively. There were also no shifts in the currency composition as shown in the table below. There was one notable –...

Overnight, the Swiss National Bank disclosed the composition and breakdown of its FX reserves as of June 30. There were no notable changes, as the central bank kept most of its asset allocations unchanged from the previous quarter, with equities, government bonds and "other bonds", at 20%, 68% and 12% respectively. There were also no shifts in the currency composition as shown in the table below. There was one notable - and unexpected - development, and it had to do with the SNB's -0.75%...

In a CEPR discussion paper, Cedric Tille argues that Switzerland’s international linkages have been transformed over the last decade. Abstract: Over the last decade, the economic linkages between Switzerland and the rest of the world have been transformed. First, merchanting and the chemical industry account for an increasing share of international trade, with chemicals exports expanding robustly in recent years despite the European crisis and the strong Swiss franc. Second, the nature of...

From the official news release Interim results of the Swiss National Bank as at 30 June 2017 The Swiss National Bank (SNB) reports a profit of CHF 1.2 billion for the first half of 2017. A valuation gain of CHF 0.3 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF 0.1 billion and the profit on Swiss franc positions stood at CHF 0.9 billion. The SNB’s financial result...

Latest Investment Outlook In his latest investment outlook, Fasanara Capital’s Franceso Filia, who two months ago explained in one chart how the “fake market” operates… … discuss what happens when a “Twin Bubble meets quantitative tightening” and answers why record-low volatility breeds market fragility and precedes system instability. We’ll have more to share on that shortly, but for now, here is Filia with his take...

(GLOBALINTELHUB.COM) Dover, DE — 7/18/2017 — Hidden in plain site, as the Trump administration finally released something of substance regarding the so called promised “Trade Negotiation” we see FX take center stage in the global drama unfolding.  As noted on a Zero Hedge article: The much anticipated document (press release and link to full document) released by U.S. Trade Representative Robert Lighthizer said the...

Authored by Kevin Muir via The Macro Tourist blog, After many months of fighting all the naysayers predicting the next big stock market crash, I am finally succumbing to the seductive story of the dark side, and getting negative on equities. I am often early, so maybe this means the rally is about to accelerate to the upside. I am willing to take that chance. It would be just like me to pound the table on the long side,...