Switzerland

This Great Graphic comes from an email I received from Thomson Reuters. It charts the nominal effective exchange rates (NEER)of the dollar, euro, Swiss franc and Australian dollar. It is weighted by trade partner, but is not adjusted for…

The Swiss government bond curve is now negative for maturities of five years and under. Investors are willing to lock up a negative yield for 5 years just to get out of euro denominated assets without taking much FX risk.

The Swiss National Bank reported its reserve figures yesterday and the increase in its sterling holdings are notable and may help explain the its relative strength, despite data a soft real sector reports, culminating in the news last week…

In recent days, policy makers have been most noticeable by their absence. This absence has weakened their credibility and encouraging speculative attention. This is true for Switzerland, Europe and Japan.

Thus far the SNB has successfully blocked the Swiss franc's appreciation relatively cheaply. Compare the bang it got from about CHF18 bln intervention last year with the record operations by Japanese officials. The SNB has various ways it…

The US dollar remains broadly firmer as euro zone concerns pressure below the surface. Increased euro zone tensions encouraged the market to test the SNB’s resolve at capping the franc against the euro.

The chart below tracks the economy of the United States and selected European economies, demonstrating the varying impact of the financial crisis there. March 2007 is the reference point where Real GDP is re-based at 100.

My latest post at Credit Writedowns Pro on protecting wealth in a world of recurring crisis is now up. I outlined eight principal investing risks that I see for for 2012 and strategies to avoid those risks. At the same time, the thought you…

The Swiss franc is moving up strongly on this news from the Swiss National Bank.

The dollar is broadly weaker as Spanish auction goes well, euro zone PMIs better than expected. SNB held policy steady with no change to EUR/CHF floor. China, Singapore data help boost sentiment; Hungary reaches deal with banks on CHF…