Category Archive: 1) SNB and CHF

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The Central Banks Face Unwelcome Realities: Their Policies Boosted Wealth Inequality, Failed to Generate “Growth”

2017-02-05

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2017-02-05

U.S. Fed Summary
Rather than be seen to be further enriching the rich, I think central banks will start closing the "free money for financiers" spigots. Take a quick glance at these charts of the Federal Reserve balance sheet and bank credit in the U.S.

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Every country will be digital – John Chambers & Izabella Kaminska at Web Summit 2016

2017-01-31

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This panel includes John Chambers of Cisco Systems and Izabella Kaminska of Financial Times. We are currently going through the biggest digital transition in history and if companies and countries don’t adapt they will die. What needs to be done to make sure countries and companies do not get left behind in this changing landscape? …

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Weekly Sight Deposits and Speculative Positions: Strong Swiss Trade Balance: SNB allows EUR/CHF to 1.0680

2017-01-30

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2017-01-30

Sight deposits January 30 2017
With the strong Swiss trade balance, the SNB let EUR/CHF fall to 1.0680. SNB intervenes for 0.5 bn CHF. Speculators are net short CHF with 13.6K contracts against USD, nearly unchanged.

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80 percent Of Central Banks Plan To Buy More Stocks

2017-01-24

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2017-01-24

Central banks foreign-exchange reserves, Global debt
Regular readers remember how, when we first reported around the time of our launch eight years ago that central banks buy stocks, intervene and prop up markets, and generally manipulate equities in order to maintain confidence in a collapsing system, and avoid a liquidation panic and bank runs, it was branded "fake news" by the established financial "kommentariat."

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Weekly Sight Deposits and Speculative Positions: Weaker dollar let SNB accumulates losses

2017-01-23

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2017-01-23

EUR/CHF is slightly above the “in-official minimum band”. The weaker dollar leads to bigger SNB losses in January. SNB intervenes for 0.9 bn at higher EUR/CHF rate. Speculators are net short CHF with 13.7K contracts against USD.

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Steuerreform holt das Geld dort, wo sich keiner wehrt: Im arbeitenden Mittelstand

2017-01-18

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2017-01-18

Swiss francs
Die kommende Abstimmung über die Unternehmenssteuerreform III führt uns einmal mehr vor Augen, wie hoch komplex diese Materie ist. Ein „Normalsterblicher“, also jemand, der sich nicht von Berufes wegen mit Steuerfragen auseinandersetzt, dürfte mit den Abstimmungsunterlagen masslos überfordert sein. Ja, selbst Ökonomen, die Fragen zur Besteuerung studiert haben, dürften bald am Ende ihres Lateins sein.

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What Vice Costs – The World’s Cheapest (& Most Expensive) Countries For Drugs, Booze, & Cigarettes

2017-01-17

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2017-01-17

Forbidden Cost of Vice?
Indulging in a weekly habit of drugs, booze and cigarettes can cost you as little as $41.40 in Laos and a whopping $1,441.50 in Japan, according to the Bloomberg Vice Index.

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Swiss franc less overvalued according to latest Big Mac index

2017-01-16

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2017-01-16

Big-Mac
On 12 January 2017, the Economist came out with its latest Big Mac index. Also known as the burger benchmark, the index compares the price of a Big Mac around the world. This catchy, if highly incomplete means of comparing the relative purchasing power of different currencies, uses the United States and the US$ as its base. Countries where Big Macs cost less than in the United States (in US$ terms) have weak currencies, and those where they are...

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Weekly Sight Deposits and Speculative Positions: Stronger SNB interventions at more expensive EUR

2017-01-16

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2017-01-16

EUR/CHF slightly above the “in-official minimum band” of 1.0680 – 1.07. SNB intervenes for 1.7 bn at higher EUR/CHF rate. Speculators are net short CHF with 14K contracts against USD.

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How Derivatives Markets Responded to the De-Pegging of the Swiss Franc

2017-01-13

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2017-01-13

bank of england
In a Bank of England Financial Stability Paper, Olga Cielinska, Andreas Joseph, Ujwal Shreyas, John Tanner and Michalis Vasios analyze transactions on the Swiss Franc foreign exchange over-the-counter derivatives market around January 15, 2015, the day when the Swiss National Bank de-pegged the Swiss Franc. From the abstract.

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Trump CNN

2017-01-11

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Swiss Franc exchange rates receive double boost from UK uncertainty

2017-01-10

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2017-01-10

GBP/CHF - British Pound Swiss Franc, January 10
The Pound has had its worst day in two months yesterday, with exchange rates against most of its major currencies now reaching a two month low, and Swiss Franc exchange rates reaching down to the much dearer end of the 1.20’s once more.

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SNB announces 24 bn CHF profit for 2016 thanks to rising stock markets.

2017-01-09

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2017-01-09

2016 Profit and Loss Swiss National SNB, US Dollar, Canadian Dollar, Japanese Yen, British Pound, FX rates for USD, JPY, EUR, GBP in 2016 with base currency CHF
The Swiss National Bank has announced 24 bn profits from 2016. Profits came from the dollar, yen and Canadian dollar, while the pound retreated by 15%. The EUR/CHF is only slightly weaker, mostly because the SNB actively supported the euro.

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Weekly Sight Deposits and Speculative Positions: SNB Intervenes, Speculators Short CHF again

2017-01-09

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2017-01-09

Euro/Swiss Franc FX Cross Rate, January 09
EUR/CHF at the "in-official minimum band" of 1.0680 to 1.07. SNB intervenes for 0.7 bn CHF to keep the euro slightly over 1.07. Speculators are net short CHF with 13K contracts against USD, 3K more than last week. This is still far from the post financial crisis record of 26 K contracts. Moreover the net short GBP are increasing again.

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Risk Reward Analysis for Financial Markets

2017-01-08

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2017-01-08

Stock Market Crash 1929
We focus this video regarding the potential upside for stocks versus the considerable downside risk for investors. All Technical Analysis is flawed and backward looking, it is a Critical Thinking flaw to extrapolate the future from the most recent past. I want to know the next market move, and not still be stuck on the most recent market move. And the most important fact of all is valuations, stocks are in a bubble right now due to Central Banks...

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Weekly Sight Deposits and Speculative Positions: SNB Intervenes, Speculators Short CHF again

2017-01-03

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2017-01-03

Euro/Swiss Franc FX Cross Rate, January 03
Last week's data: FX: EUR/CHF was between 1.07 and 1.0750. SNB sight deposits: SNB intervenes for 0.7 bn. CHF at the EUR/CHF 1.07 level. CHF Speculative Positions Speculators went net short CHF with 10K contracts, this is still far from the 26.K contracts record.

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Weekly Sight Deposits and Speculative Positions: SNB intervenes, while Speculators go Long CHF

2016-12-27

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2016-12-27

Euro/Swiss Franc FX Cross Rate
The Fed has hiked rates and with this fait accomplis speculators sold the news. They closed their short CHF and opened new CHF longs. The SNB, however, intervened again for 0.5 billion CHF.

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Swiss Financial Accounts, 2015 edition

2016-12-24

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2016-12-24

Balance Sheet of Households
This year, the Swiss financial accounts, which have been released by the Swiss National Bank since 2005, feature changes affecting both timeliness and presentation. For the first time, data on the financial accounts are now published within eleven months of the reference date, reducing time to publication by one year. Moreover, the balance sheet of households, previously the subject of the press release on household wealth, is now included in the...

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We Know How This Ends – Part 2

2016-12-23

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2016-12-23

History Most Definitely Rhymes
In March 1969, while Buba was busy in the quicksand of its swaps and forward dollar interventions, Netherlands Bank (the Dutch central bank) had instructed commercial banks in Holland to pull back funds from the eurodollar market in order to bring up their liquidity positions which had dwindled dangerously during this increasing currency chaos.

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Kosten eines Vollgeld-Systems sind hoch (Costly Sovereign Money)

2016-12-22

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2016-12-22

Niepelt Keystone
Eine Umsetzung der Vollgeld-Initiative würde grossen Schaden anrichten und dürfte im Ergebnis selbst die Initianten enttäuschen. Verbesserungen verspricht dagegen eine «sanfte» Reform: die Einführung von elektronischem SNB-Geld für alle.

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