Category Archive: SNB

Weekly Sight Deposits and Speculative Positions: SNB interventions are rising again

The SNB intervenes for 2.9 bn CHF at EUR/CHF 1.07. For us, clearly too much and is too risky; she will not maintain this pace over a longer term. Hence the EUR/CHF is prone to fall again.

Riskante SNB-Politik: up! fordert Währungswettbewerb

Die Schweizerische Nationalbank (SNB) hat am Donnerstag ihren Geschäftsbericht publiziert und musste erneut heftige Kritik vor der Schweizer Unabhängigkeitspartei up! einstecken. up! kritisiert insbesondere die expansive Geldpolitik, die zu...

Weekly SNB Intervention Update: Sight Deposits and Speculative Position

The SNB intervenes for 2.9 bn CHF at EUR/CHF 1.07. For us, clearly too much and is too risky; she will not maintain this pace over a longer term. Hence the EUR/CHF is prone to fall again.

SNB Spent $68 Billion On Currency Manipulation In 2016

While Donald Trump has repeatedly expressed his displeasure with China for manipulating its currency, he appears to have recently figured out that over the past 2 years Beijing has been spending hundreds of billions in dollar to strengthen, not weaken,...

2016 Annual Report of the Swiss National Bank

The Swiss National Bank carried out foreign exchange interventions totaling 67.1B Swiss francs in 2016 in order to counter "an undesired tightening of monetary conditions," the central bank disclosed in its annual report. That was down from 86.1B...

New calculation of SNB exchange rate indices

Change to a more comprehensive and up-to-date methodology. The Swiss National Bank (SNB) is putting the Swiss franc exchange rate indices it calculates and publishes on a new footing. The adjustment allows the Swiss economy’s competitive and trading...

Weekly Sight Deposits and Speculative Positions: EUR/CHF suddenly higher after ECB

The EUR/CHF suddenly appreciated with the ECB meeting, when Draghi seemed less dovish than before. The rate rose from the previous 1.0650 to over 1.0750. With the SNB meeting, the EUR/CHF receded again. SNB interventions, are currently at 2 bn. per...

SNB Monetary Policy Assessment March 2017: EUR/CHF lower again

The EUR/CHF collapsed after the monetary assessment meeting of the Swiss National Bank. The SNB did not fulfill the wishes of currency traders with a more dovish policy, i.e. with lower rates or the thread of stronger interventions.

Weekly Sight Deposits and Speculative Positions: EUR/CHF suddenly higher after ECB

The SNB intervened less than before. Investors might have changed their positions after a less dovish ECB.

Are Central Banks Losing Control?

If you want a central banker to choke on his croissant, read him this quote from socio-historian Immanuel Wallerstein: "Countries (have lost the ability) to control what happens to them in the ongoing life of the modern world-system."

Swiss National Bank Results 2016 and Comments

The Swiss National Bank (SNB) reports a profit of CHF 24.5 billion for the year 2016 (2015: loss of CHF 23.3 billion). The profit on foreign currency positions amounted to CHF 19.4 billion. A valuation gain of CHF 3.9 billion was recorded on gold...

Weekly Sight Deposits and Speculative Positions: Each week an intervention record.

Once again a massive SNB intervention and a post Trump election record: 5,1 billion, at far too expensive FX rates: EUR rate of 1.0648 and USD/CHF over parity.

It Is Time To Short The Swiss National Bank!

The current Article will take a closer look to the incredible rise of the Swiss National Bank stock and suggest why taking a short position could be the right trade at this level. The Swiss Central Bank: Mandate and Monetary Policy. According to the...

Each Week the Same: Another SNB Intervention Record

Once again: another record in SNB intervention record for the period after Trump's election: an increase of 4.7 billion CHF in sight deposits. The trend for EUR/CHF versus parity getting confirmed.

Video: The Swiss National Bank Is Acting Like A Hedge Fund

We discuss the fact that Central Banks have basically morphed into Hedge Funds with similar risky investing strategies, except they buy without any regard to the underlying fundamentals of the assets they are buying. When did the Swiss Citizens say it...

Weekly Sight Deposits and Speculative Positions: Once again a new SNB intervention record

Once again a massive SNB intervention and a post Trump election record: 4.5 billion CHF at a EUR rate of 1.0648.

Schuld an der Steuerklatsche sind die honorigen Ökonomen

Sieben Bundesräte, das Parlament, alle Finanzdirektoren und alle Wirtschaftsverbände waren für die Steuerreform. Millionen wurden in den Abstimmungskampf investiert. Trotzdem ging die geplante Steuerreform III mit rund 60 Prozent bachab. Ein klareres...

What Will Trump Do About The Central-Bank Cartel?

The US is by far the biggest economy in the world. Its financial markets — be it equity, bonds or derivatives markets — are the largest and most liquid. The Greenback is the most important transaction currency. Many currencies in the world — be it the...

Weekly Sight Deposits and Speculative Positions: Another Post-Trump SNB Intervention Record

A big Swiss bank bets on EUR/CHF 1.10 as soon as the ECB ends their bond buying program. But one should realize that private investors will need to buy the EUR at 1.10, but the SNB is not willing to do so any more. Hence we must see SNB interventions...

Ist die SNB fachlich überfordert?

„Die SNB druckt Franken und kauft mit dem Geld Anleihen oder Aktien in Fremdwährungen.“ Diese Behauptung wurde in den vergangenen Tagen einmal mehr flächendeckend von den Schweizer Medien kolportiert. Vorausgegangen war ein „Montagsinterview“ von...
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