Weekly SNB Sight Deposits and Speculative Positions: SNB buying euros at high prices

Update September 28, 2020: SNB buying euros at high prices. Sight Deposits have risen by +0.6 bn CHF, this means that the SNB is intervening and buying Euros and Dollars: The change is +0.6 bn. compared to last week.

Impressive Swiss Recovery After SNB Peg Removal

Retail data shows that the SNB peg removal in January 2015 as early as April 2015 with minimal adverse impact on the economy. Trade surplus showed that Switzerland had fully recovered its lost trade surplus in May and expectations crossed an important threshold into positive territory in June. CHF strengthened since May end, as the market caught wind of the Swiss recovery, and the Grexit would further strengthen the CHF if it were to occur.

Swiss Franc History: Volcker’s defeat of inflation strengthens dollar, weakens Swiss franc

Hans Werner Sinn’s Piketty Critique: “r ≠ i > g”

Hans Werner Sinn has formulated his critique with Piketty. Sinn says that: r ≠ i > g, hence Interest rates i are usually higher than economic growth g, but r is not the same as i. Hence r can be higher or lower than g.

Weak Yen, Is it Really a Currency War?

Some journalists, like Ambrose Evans-Pritchard of the U.K.'s Telegraph and Michael Casey of the Wall Street Journal, have already claimed this to be a shot in the currency wars. Casey focuses exclusively on the BOJ activity and does not even mention GPIF.