Tag Archive: Swiss National Bank

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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SNB Results: SNB poised for 10 billion CHF quarterly profit

2012-07-26

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2012-07-26

jordan vs. ackermann was it a pyhrrus Victory ? snb results q2/2012
  On July 31st the Swiss National Bank will publish interim results for the second quarter 2012. Already now we offer  an estimate to our readers. Our estimate does not cover the central bank’s Forex trading results, they are difficult to estimate. A central bank is not a day trader, therefore the influence should be limited. …

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SNB Zwischenbericht 2. Quartal 2012: Nationalbank möglicherweise mit mehr als 10 Milliarden Gewinn

2012-07-26

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2012-07-26

jordan vs. ackermann was it a pyhrrus Victory ? snb results q2/2012
  Am 31. Juli um 7.30 Uhr wird die Schweizerische Nationalbank (SNB) den Zwischenbericht für das zweite Quartal 2012 herausgeben. Wir offerieren unseren Lesern schon jetzt eine Schätzung.  Wir rechnen mit einem Gewinn von 10,65 Milliarden CHF dank der starken Erhöhung der Devisenreserven in den Monaten Mai und Juni und der Abschwächung des Franken gegenüber dem US-Dollar, …

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Guest Post: Six Reasons Why Italy May Exit the Euro Before Spain; Ultimate Occupy Movement

2012-07-24

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2012-07-24

Beppe Grillo
Six Reasons Why Italy May Exit Before Spain 1) Rise of the Five Star Movement 2) 44% of Italians view the euro negatively, only 30% favorably. That is biggest negative spread in the eurozone. In Spain more view the euro positively than negative, albeit by a small 4 percentage point spread.

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German Schatz turns negative again

2012-07-18

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2012-07-18

Government bond yields under 1% July 18th
After the first time End May, the German Schatz turns negative: German June 2014 Schatz Average Yield -0.06% vs 0.10% on June 20 Swiss Eidgenossen 2yrs still at -0.4%

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German constitutional court needs 3 months to decide about the injunction

2012-07-11

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2012-07-11

esm bundesverfassungsgericht 2
The German constitutional court will need up to 3 months for the injunction. Weidmann's critic on the ESM in detail. Estimations of German liability between 900 bln. and 2 trillion EUR.

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German constitutional court injunction decision on ESM and the potential referendum

2012-07-10

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2012-07-10

Gruppenfoto Zweiter Senat beim Bundesverfassungsgericht in Karlsruhe
What is the injunction procedure of the German constitutional court exactly about. What are the arguments of the Anti-ESM and the Pro-ESM fractions ?

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At EUR/CHF 1.10 SNB with 31 bln. loss, each Swiss losing 150 francs per week

2012-07-06

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2012-07-06

mass francs
The Swiss National Bank would realize a loss of 31 bln. francs, if it accepted a EUR/CHF exchange rate of 1.10 instead 1.20 and if we assume that the Swissie also appreciates against the dollar and other currencies

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Bei EUR/CHF 1.10 SNB mit 31 Milliarden Verlust, jeder Schweizer verliert 150 Franken pro Woche

2012-07-06

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2012-07-06

mass francs
Currently only in english.

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Non-Farm Payrolls: Today’s preview

2012-07-06

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2012-07-06

Bloomberg Estimate
A detailed comparison of Non-Farm Payroll estimators from six different sources, like Bloomberg, ISM, Department of Labor and ADP.

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Global Macro with all Global PMIs July 4th

2012-07-04

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2012-07-04

On the way to a recession
updated July 4,2012 This page inside our macro data menu contains global PMIs  compared with the main risk indicators S&P500, Copper, Brent and AUD/USD as of the day after most PMIs came out. JP Morgan’s Global PMI:  Click for details inside the table, History of composite PMI  

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Only 17% of German voters in favor of Eurobonds

2012-07-04

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2012-07-04

  Voters are strongly against many other European utopias The newest poll of the Forsa institute, here in the left-wing Stern and the conservative Welt, shows that Germans are strongly against Eurobonds and many more European “utopias”, as we called it. The German chancellor Angela Merkel recently connected her life with the fulfillment of the voters wish to …

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

2012-06-30

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2012-06-30

genius
SNB In A Bind With Euro Holdings Today’s reserve data showed skyrocketing reserves at the Swiss National Bank as they defend the EUR/CHF floor. Reserves were at 365B francs at the end of Q2 compared to 245B at the end of March, with all the growth coming in the final two months of the quarter … Continue reading »

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Merkel: ‘No Eurobonds as Long as I Live’, Hollande: ‘Eurobonds will take up to 10 years’

2012-06-27

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2012-06-27

Eurobonds
  German chancellor Angela Merkel today confirmed the content of our article that Eurobonds are pure utopia. She vows  "No Eurobonds as Long as I Live".

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The win of the pro-bailout parties in the Greek elections was no win for the SNB

2012-06-25

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2012-06-25

Jordan
  The win for the pro-bailout parties in the Greek elections was no win for the Swiss National Bank (SNB), even if the fear of an immediate bank-run and extreme money flows into Switzerland are avoided.  Also the fact that QE3 is not coming in the next weeks did not help the SNB.

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Eurobonds, fiscal union or banking union are all pure utopia

Eurobonds dare pure utopia SNBCHF.COM
Eurobonds are light years away.Germany wants the following order: 1) Euro Plus Pact 2) Fiscal Compact 3) ESM 4) Political union 5) Fiscal union 6) Eurobonds

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The other risk for the SNB: Will German Bund yields double ?

2012-06-20

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2012-06-20

10 yrs. Bunds
In the latest post we started discussing the implications of a German euro exit for the Swiss National Bank, this time we will look on another risk: The rising German Bund yields.

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