Sunday , February 17 2019
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SNB & CHF

Mark Carney Steadies GBP/CHF Rates on Global Viewpoint

- Click to enlarge The pound to Swiss franc exchange rate has been steadied following comments from Mark Carney during a briefing on the global economy at the Barbican centre in London yesterday. I was fortunate to be in attendance and was struck by Carney’s confident manner, although he highlighted some major risks ahead which would be key for GBP/CHF rates. Sterling was weaker going into the talks, particularly...

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Chaos-Politik der SNB mobilisiert SVP und SP: Milliarden für Vorsorge

Mit „links und rechts“ hat unsere Schweizerischen Nationalbank (SNB) ihre grosse Mühe. Da ist zunächst ihre Bilanz, bei der sie unfähig ist, „links und rechts“ voneinander zu unterscheiden. Unverstanden gerät sie nun folgerichtig auch politisch immer mehr unter Druck: konsequenterweisee von „links und rechts“. Von „links und rechts“ wird nämlich endlich gefordert, dass die SNB ihre Überschüsse aus dem Negativzins den...

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GBPCHF rates hit near 3-month highs

The Pound to Swiss Franc exchange rate has soared dramatically following a series of revelations in the currency markets and global economy. A big factor is of course Sterling strength, which has arisen on the back of increased feelings that the UK will avoid a no-deal Brexit. This could manifest next week in a Parliamentary vote on whether or not to rule out a no-deal Brexit. The Pound is much stronger on this news,...

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Folgt nun der umgekehrte Frankenschock?

An ihrer ersten Sitzung im neuen Jahr hat die Europäische Zentralbank (EZB) ihren Kurs bestätigt. Das Wertschriftenkaufprogramm ist definitiv beendet. Fortan kauft sie netto keine zusätzlichen Anleihen mehr zu. Sondern sie ersetzt nur noch die bestehenden Papiere, die sie in ihrem Portefeuille hält. Läuft eine Anleihe aus, erwirbt sie mit den Mitteln vergleichbare Anleihen, mehr nicht. Der Unterschied: Bisher druckte...

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SNB Grants Fintechs Access to SIC

In a press release the Swiss National Bank explains that it grants access to … [fintechs] that make a significant contribution to the fulfilment of the SNB’s statutory tasks, and whose admission does not pose any major risks. Entities with fintech licences whose business model makes them significant participants in the area of Swiss franc payment transactions will therefore be granted access to the SIC system and to...

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Will the SNB ever make profits again?

  The increasing volatility of SNB Earnings Annual results are not really definite. Given that the SNB accumulates foreign currencies with interventions, they have huge swings. But the SNB may lose 50 billion in one year and win 60 billion in the next year or vice verse. Good years of the Credit Cycle: Rising Bond and Stock Prices until 2017 Until 2017, the SNB was able to profit on a secular tendency where both stock...

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Swiss National Bank Suffers $15 Billion Loss On 2018 Market Rout

SNB US Stock Holdings In the third quarter of 2018, the hedge fund known as the Swiss National Bank did something it had not done in years: it sold stocks. As we showed in November, the overall value of the SNB’s US listed long holdings rose by over $2 billion to $90 billion, but all of this was due to the price appreciation as the central bank sold around $7bn of equities in Q3. This compares to purchases during 1H18...

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Will the SNB ever make profits again?

  The increasing volatility of SNB Earnings Annual results are not really definite. Given that the SNB accumulates foreign currencies with interventions, they have huge swings. But the SNB may lose 50 billion in one year and win 60 billion in the next year or vice verse. Good years of the Credit Cycle: Rising Bond and Stock Prices until 2017 Until 2017, the SNB was able to profit on a secular tendency where both stock...

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Swiss National Bank expects annual loss of CHF 15 billion

Confederation and cantons to receive distribution of CHF 2 billion According to provisional calculations, the Swiss National Bank (SNB) will report a loss in the order of CHF 15 billion for the 2018 financial year. The loss on foreign currency positions amounted to CHF 16 billio n. A valuation loss of CHF 0.3 billion was recorded on gold holdings. The net result on Swiss franc positions amounted to CHF 2 billion. The...

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Brexit vote to dominate Pound to Swiss Franc exchange rates

Pound to Swiss Franc exchange rates The value of the Pound against the Swiss Franc has remained in a fairly tight range since the start of the year. However, in the last couple of days the Pound has made some small gains after the Swiss National Bank confirmed that their currency reserves have dropped slightly. We have also seen reports of positive sales of Swiss watches, which is one of Switzerland’s largest exports....

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