Category Archive: 1) SNB and CHF

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IMF Data: SNB Forex Reserves and Gold in September 2012

2012-10-12

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2012-10-12

This link  on the SNB website shows the data the central bank provides to the International Monetary Fund (IMF). It shows the SNB Forex and gold reserves in the last month. It is so-called “IMF Special Data Dissemination Standard (SNB Data)” It is released together with the international investment position, some monetary aggregates and the balance of payments two weeks after …

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SNB Monetary Data Week October 5

2012-10-08

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2012-10-08

Stock market performance per quarter
Seasonal effects, the good months for the SNB and the US economy, but weaker ones for emerging markets and Switzerland, have started Given that the seasonal effects between October to March have started, the SNB might be able to sell some currency reserves. Traditionally the United States and the USD dollar become stronger and stocks rise over the autumn months …

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Is Standard and Poor’s a Rating Agency or a Rumor Agency ?

2012-10-01

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2012-10-01

Standard & Poors1
  Standard and Poor’s critique of the Swiss National Bank, Part 2, extracts from our full report       As many readers of our blog know, we are not the best of friends with the current Swiss National Bank (SNB) policy: we recently published a paper claiming that the SNB will go bankrupt and …

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SNB Monetary Data Week of September 28

2012-10-01

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2012-10-01

snb -expansion
Seasonal effects, the good months for the SNB and the US economy, but weaker ones for emerging markets and Switzerland, have started Given that the seasonal effects between October to March have started, the SNB might be able to sell some currency reserves. Traditionally the United States and the USD dollar become stronger over the autumn months till …

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Do Swiss companies prefer to hold cash at the SNB instead of local banks ?

2012-09-24

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2012-09-24

snb expansion
The most recent SNB monetary data show that more and more companies are increasing their deposits at the central bank at a quicker speed than local banks. Might this be missing trust in the Swiss banking system ?

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Swiss Net International Investment Position Increases by 64 Billion Francs

2012-09-21

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2012-09-21

Swiss Net International Investment Position Q2/2012
Swiss Gross National Income (GNI) rises by 1.8% in Q2, after Q1 +0.5%   According to the latest SNB Monthly Bulletin, the Swiss net international investment position (NIIP) has improved by 64.5 billion francs. The Gross National Income (GNI) rises by 1.8% in Q2.     The SNB currency reserves rose by 128 Bln. Francs in the …

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Isn’t it wonderful to trade with a strong central bank behind you?

2012-09-13

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2012-09-13

DOCU payout UBS
  Isn’t it wonderful to have a strong central bank like the SNB sitting behind you when trading Forex? Losses are limited to the floor of 1.20 and in the meantime you can gain forward swaps with the higher euro zone interest rates. Today the Swiss National Bank (SNB) decided in its monetary policy assessment …

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The next SNB rumor: Wall Street Journal and our response

2012-09-12

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2012-09-12

GDP Switzerland vs. Eurozone
A bit breathlessly….     The next SNB rumor story comes from the so-well established Wall Street Journal, its columnist Nick Hastings. WSJ: The Swiss National Bank was bold before. And the central bank would be well advised to be just as bold again. When the SNB announced just over a year ago that it was setting a …

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SNB prints nearly 5 billion francs in one week, FX traders poised to get ripped off

2012-09-10

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2012-09-10

monetary expansion snb
  As we expected in our post “What’s this crazy movement in EUR/CHF ? SNB Floor Hike ?“, long-time investors, global macro funds and US investment banks are moving into gold and the Swiss franc again.  The SNB had to buy euros and print new Swiss francs of around 5 billion francs last week, as … Continue reading »

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The Full English Translation of the Interview with Thomas Jordan

2012-08-29

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2012-08-29

Jordan in the ECO interview
  Here a translation of the interview with the president of the Swiss National Bank, Thomas Jordan, in the finance magazine ECO of the Swiss television SF1. Here the original German video. Question: Given that the SNB has reserves of over 200 bln. Euros, are you still able to sleep ? Jordan: We are in a … Continue reading...

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The Swiss television interview with Thomas Jordan, or was it Leonid Brezhnev ?

2012-08-27

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2012-08-27

   Today Thomas Jordan gave a quick interview in the Swiss television. Everything was so well prepared and as sterilized. Thomas Jordan learned all answers by heart and was answered the questions about one second after the question was asked. It reminded me of an interview in Soviet television with former Soviet leader Leonid Brezhnev. Each …

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SNB only major central bank missing at Jackson Hole, are important SNB decisions looming ?

2012-08-27

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2012-08-27

SNB Chairman Jordan speaks to media during a news conference in Bern
  The Jackson Hole Symposium is traditionally a meeting of global central bankers, here the 2010 attendance list. This year it takes place between August 30 and September 1. Central bankers assemble  The annual economic symposium for central bankers staged by the Federal Reserve Bank of Kansas City begins in Jackson Hole, Colorado (until September 1). …

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EUR/CHF, A History of Interventions: What markets say, July 2012

2012-07-31

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2012-07-31

More Chatter About The EUR/CHF Peg The FT reports that Switzerland is ‘new China’ in currencies Chatter that the SNB was buying 3 billion francs worth of euros per day. “The picture is one of a central bank that’s not coping with how much money is coming in,” said Kit Juckes, foreign currency analyst at Société … Continue reading »

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SNB zwingt jeden Schweizer implizit 73% seines Einkommens von 2012 in Euros anzulegen

2012-07-31

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2012-07-31

Swiss franc euro
Mit dem SNB Zwischenbericht heute wurde es klar, dass die Schweizerische Nationalbank 77% der im zweiten Quartal um 125 Milliarden Franken erhöhten Devisenreserven in Euro investiert hat. Die Abhängigkeit vom Euro ist so gross geworden, so dass die Schweiz gezwungen sein könnte, ein Teil der Eurozone zu werden, wenn sie einen riesigen Verlust vermeiden will. …

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How Switzerland Implicitly Joins the Eurozone: SNB Obliges each Swiss to Invest 73% of 2012 income in Euros

Swiss franc euro
The SNB forces each Swiss to invest 73% of each one's yearly income into Euros. Reason enough to join the Euro zone ?

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SNB results: SNB invested 77% of the huge Q2 increase in reserves into Euros. Peg at risk ?

2012-07-31

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2012-07-31

snb q2 currency breakdown eur usd gbp
  The Swiss National Bank (SNB) reported a profit of 6.5 billion Swiss Franc for the first half year (H1). After a loss of 1.7 bln. francs in the first quarter (Q1), it had a 8.2 billion profit for the second quarter (Q2). The Q2 SNB results of 8.2 bln. CHF were less than our … Continue reading »

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