Tag Archive: newsletter

EU parcel tax ‘will not slow Chinese retailers’: Swiss Post boss

2026-10-03

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2026-10-03

The European Union’s customs duty on small parcels from third countries has had a knock-on impact at Swiss Post. The number of parcels sent to the EU has fallen by a double-digit percentage. "However, things should gradually return to normal," Swiss Post director Pascal Grieder told the Schweiz am Wochenende. This is what happened in …

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Swiss space firm Beyond Gravity target of cyberattack

2026-10-03

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2026-10-03

Beyond Gravity, the Swiss state-owned aerospace supplier, has fallen victim to a targeted cyberattack. According to the company, a highly professional actor is believed to be behind the attack. + In space exploration, Switzerland punches above its weight Beyond Gravity announced on Friday that it had received the first indications of malicious activity in its …

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Q4 Market Outlook: Strong Years Usually Finish Strong

2026-10-03

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2026-10-03

🔎 At a Glance 🏛️ Market Brief -Bond Yields Hit A 24-Year High The bond market ran the show this week. On Thursday, the 10-year Treasury yield touched 5.34%, its highest level since April 2002. It eased back to roughly 5.28% by Friday. The 30-year yield pushed toward 5.67%. Stocks absorbed the shock better than …

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US Jobs Report to Help Resolve Tension between Firm Greenback and Softer Short-Term Rates

2026-10-02

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2026-10-02

The US dollar is mostly firmer ahead of today’s important US employment report. The Japan yen and Swiss franc are exceptions and are 0.30%-0.40% higher.  The greenback’s resilience is notable because comments by the vice chair of the FOMC (Williams) and the vice chair of the Federal Reserve Board (Jefferson) both seemed to suggest that …

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Can Anthropic Outearn Its Obligations?

2026-10-02

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2026-10-02

Anthropic's leaked IPO prospectus, as reported by Reuters and the Financial Times, shows the company is growing faster than ever while committing to obligations that dwarf its earnings. To wit, annual revenue rose roughly 12x in 2025 to $4.6 billion, from about $400 million in 2024. Its first-quarter 2026 revenue was $4.73 billion, and its …

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Price Of Happiness: Missing The Things That Matter

2026-10-02

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2026-10-02

The viral "price of happiness" number prices a survey answer, not the thing you feel, and it's quoted per person. The "price of happiness" chart came around again recently, and the number attached to it was as confident as ever. One widely shared version, built from a Remitly analysis, ranked 50 countries. The measure: how …

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Swiss gas sector views coming winter with concern

2026-10-01

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2026-10-01

Switzerland relies on natural gas as part of its energy mix, both for heating and for industrial processes. But prices have tripled this year due to the tense political situation in supplier countries in the Middle East. The situation is tense, says Daniela Decurtins, the director of the Association of the Swiss Gas Industry. “We …

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New Month, Same Market Dynamics

2026-10-01

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2026-10-01

A new month begins, but the market dynamics are familiar.  Rising oil prices and rising yields have lifted the greenback broadly.  The euro and Canadian dollar have been sold to new lows for the year. Interest rate premiums over Germany within the eurozone widen as the focus is on the French and Italian budgets.  The …

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The Swap Market Says Treasury And AI Debt Is Not A Problem

2026-10-01

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2026-10-01

Monday’s Tweet of the Day in the Daily Commentary highlighted rising swap spreads and noted that Treasury issuance is not the problem many pundits make it out to be. Swap spreads are a great gauge for the health and liquidity of the US Treasury market, so it's worth appreciating the Tweet below. A swap spread … Continue...

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Swiss House backs easier access to labour market by third-country nationals

2026-10-01

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2026-10-01

People with protection status S and third-country nationals who have been educated in Switzerland are to be granted easier access to the labour market. The House of Representatives approved a corresponding bill from the federal government on Wednesday. The bill was passed by 128 votes to 65. It will now go to the Senate. In …

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Stablecoins could hinder monetary policy: Swiss central bank

2026-10-01

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2026-10-01

Stablecoins could complicate the transmission of monetary policy, one of the Swiss National Bank’s (SNB) three interest rate-setters said, calling for a regulation that safeguards the influence of policymakers. “Modernising the payment system is sensible,” governing board member Petra Tschudin said Wednesday at an event in Zurich. But large stablecoins that are not integrated in …

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UBS should quit Switzerland, says major shareholder

2026-10-01

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2026-10-01

UBS shareholder Artisan Partners has urged the Swiss bank to leave the country, saying the lender faces a “grim reality” with stricter capital rules. “The simple fact is that Switzerland is no longer an attractive or desirable location for UBS,” Artisan Partners portfolio managers, including Daniel O’Keefe, wrote in a letter to UBS’s board on …

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Top 7 Most Innovative Swiss Fintechs, Bilanz Ranking 2027

2026-10-01

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2026-10-01

BILANZ and Statista have recognised seven Swiss fintech companies in their 2027 ranking of the country’s most innovative SMU’s. Covering 45 companies across multiple industries, the ranking includes businesses of different sizes and ownership structures. Innovation is assessed across three areas: process innovation, product innovation and innovation culture. Expert and employee evaluations are combined with objective criteria, including patent...

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Many Swiss men want part-time work, but few take the plunge

2026-09-30

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2026-09-30

The proportion of men working part-time has doubled in Switzerland since 2000, according to a University of Zurich study supported by the Swiss National Science Foundation (SNSF). But many are also discouraged from reducing their hours, largely by social norms. In Switzerland, around 40% of the working population works part-time, a figure that puts the …

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Swiss do not want a sugar tax, finds beverage industry survey

2026-09-30

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2026-09-30

The Swiss want the state to take a more active role in tackling obesity but without resorting to new taxes or bans, according to a survey commissioned by the Soft Drinks Information Group. According to a survey, the public favours individual responsibility but calls for greater protection of children from advertising. These findings emerge from …

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Swiss central bank sells francs to counter haven effect

2026-09-30

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2026-09-30

The Swiss National Bank (SNB) continued to sell francs in the second quarter, following through on its “increased willingness” to intervene against a stronger currency. Switzerland’s central bank purchased foreign exchange worth CHF1.4 billion ($1.7 billion) from April through June, according to data on Wednesday. That’s down from the CHF3.9 billion it bought in the …

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The Lack of Urgency Expressed by NY Fed President Williams Pushes Rates Lower and Weighs on the Greenback

2026-09-30

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2026-09-30

The combination of lower oil prices yesterday and less hawkish comments by NY Fed President Williams helped steady US interest rates yesterday. Williams, who has a permanent vote on the FOMC as its vice chair, open speaks as part of the Fed’s leadership, and downplayed the sense of urgency. The Fed funds were discounting about …

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The Swiss economy is likely to grow faster than expected

2026-09-30

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2026-09-30

Economists at the KOF Institute at ETH Zurich have significantly raised their growth forecast for the Swiss economy for 2026. They are also more optimistic about the coming year. However, uncertainty remains high. Gross domestic product (GDP) is expected to rise by 1.9% this year, excluding international sporting events, as economists announced on Wednesday. Back …

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From TINA To TIGA: Diversification Pays Again

2026-09-30

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2026-09-30

For more than a decade following the Financial Crisis, one acronym embodied the investment landscape: TINA, "there is no alternative." The logic behind TINA was that the Fed and most other developed nations’ central banks held interest rates near zero and even below zero in some cases. As a result, Treasury, corporate, municipal, and international …

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Higher Yields Flipped The Math In The Investors’ Favor

2026-09-30

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2026-09-30

Will 5.00% be the approximate ceiling for Treasury yields? Maybe, maybe not, but for bond investors, the risk-reward math is becoming very enticing even if yields rise further. Today's yields provide a loss cushion that did not exist three years ago, and a return asymmetry heavily in investors' favor. To appreciate this concept, consider that …

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