Weekly SNB Sight Deposits and Speculative Positions: SNB selling euros and dollars
2021-04-12
Update April 12 2021: SNB selling euros and dollars. Sight Deposits have fallen: The change is -0.5 bn. compared to last week, this means the SNB is selling euros and dollars.
Nine Percent of GDP Fiscal, Ha! Try Forty
2021-02-25
Fear of the ultra-inflationary aspects of fiscal overdrive. This is the current message, but according to what basis? Bigger is better, therefore if the last one didn’t work then the much larger next one absolutely will. So long as you forget there was a last one and when that prior version had been announced it was also given the same benefit of the doubt.
Swiss franc shrugs off being put on the naughty step by US
2021-01-07
For many foreign exchange traders, the US Treasury’s decision to designate Switzerland as a currency manipulator last month comes nearly six years too late and with a good dose of irony.
“Dirk Niepelt im swissinfo.ch-Gespräch (Interview with Dirk Niepelt),” swissinfo, 2020
2020-12-16
Swissinfo, December 14, 2020. HTML, podcast.
We talk about CBDC, the Swiss National Bank, whether CBDC would render it easier to implement helicopter drops, and how central bank profits should be distributed.
Just Who Is, And Who Is Not, Selling T-Bills
2020-11-29
Are foreigners selling Treasury bills? If they are, this would seem to merit consideration for the reflation argument. After all, the paramount monetary deficiency exposed by March’s GFC2 (and the Fed’s blatant role in making it worse) was the dangerous degree of shortage over the best collateral.
Extending the Summer Slowdown
2020-11-20
A big splurge in September, and then not much more in October. While it would be consistent for many to focus on the former, instead there is much about the latter which, for once, is feeding growing concerns. Retail sales, American consumer spending on goods, has been the one (outside of economically insignificant housing) bright spot since summer
SNB Profit in Q1 to Q3 2020: CHF 15.1 billion Despite Covid19
2020-10-31
The Swiss National Bank reports a profit of CHF 15.1 billion for the first three quarters of 2020. We explain why these profits are possible.
2020-10-30 – Swiss Financial Accounts: quarterly data published for first time
2020-10-30
The Swiss National Bank is expanding its data offering with respect to Switzerland’s financial accounts. It will now publish quarterly as well as annual data, and the time to publication will be shortened from ten to four months.