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  #241  
Old 28.07.2011, 14:40
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Re: Swiss Franc Climbs to Record High

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A quick question to the specialists, if I may: is the CHF so strong, or are EUR, USD so weak?
it's a mix of both. USD, GBP are weak. EUR is a bit of a mixed bag, if it was just the Germany in the EUR, then arguably it would be quite strong but there is a whole set of unknowns regarding how the eurozone will react to the crisis. interestingly, i think the Euro is the first fiat currency that is not controlled by a single country.

CHF is a safe-haven currency and so now you have a perfect storm resulting in investors fleeing to the safety of the CHF.
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  #242  
Old 28.07.2011, 14:43
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Re: Swiss Franc Climbs to Record High

Won't be long before the negative interests kicks in again.
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  #243  
Old 28.07.2011, 14:49
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Re: Swiss Franc Climbs to Record High

Good article in the Economist this week about the CHF. it is worth taking a look at if you can get hold of a copy.
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  #244  
Old 28.07.2011, 14:50
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Re: Swiss Franc Climbs to Record High

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Similar to what it was on Monday. Sales 1.158..

The bad results of UBS + CS show that real investors in the EuroZone no longer have so much money as before. And the relative "stability on a low level" seems to show that also the finance speculators have done the transfers they wanted to do.

Those UBS + CS chaps who now will be disposed of possibly no longer regard the high exchange rate of the CHF as such a good thing, as they aparently did not too long ago
Similar to what it was on Monday? Not on this graph!

Last edited by marton; 08.12.2017 at 18:37.
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  #245  
Old 28.07.2011, 14:57
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Re: Swiss Franc Climbs to Record High

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Good article in the Economist this week about the CHF. it is worth taking a look at if you can get hold of a copy.
Or read it online
http://www.economist.com/node/18988646
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  #246  
Old 28.07.2011, 14:58
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Re: Swiss Franc Climbs to Record High

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Won't be long before the negative interests kicks in again.
negative interest rates would be a good step to try to curb inflows of cash. maybe have a 100% reserve requirement on non-resident deposits, together with a 10% interest per quarter charge on non-resident deposits.

i fear however that pressure will come to take the 'easy way out' and debase the CHF and let inflation rip.
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  #247  
Old 28.07.2011, 15:34
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Re: Swiss Franc Climbs to Record High

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Yes because poking fun at and using the at someone who has just lost their job and livelihood is HILARIOUS
They not only have had higher salaries than was/is standard in the rest of the economy, they are qualified enough to get good jobs within no time. While their trouble indeed is not nice, the point that many of them now possibly backpedal on some of their opinions however IS
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  #248  
Old 28.07.2011, 15:44
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Re: Swiss Franc Climbs to Record High

So if I interpret that Economist article correctly, if Switzerland continues to do well despite the strong currency, this will only serve to boost confidence in the SFR and push it even higher?!?
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  #249  
Old 28.07.2011, 15:49
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Re: Swiss Franc Climbs to Record High

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So if I interpret that Economist article correctly, if Switzerland continues to do well despite the strong currency, this will only serve to boost confidence in the SFR and push it even higher?!?
That is my understanding but only if the confidence in euro/US$ remains as is.
Contrariwise - they state that if confidence in euro/US$ improves then they will rise. In this case they may continue to have same level versus CHF or rise further (or not )
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Old 28.07.2011, 15:52
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Re: Swiss Franc Climbs to Record High

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They not only have had higher salaries than was/is standard in the rest of the economy, they are qualified enough to get good jobs within no time. While their trouble indeed is not nice, the point that many of them now possibly backpedal on some of their opinions however IS
Come on Porsche, the bankers (choose the consonant) have had it VERY VERY good, a bit of humility won't hurt them, honest. I do feel much more sorry for all the 'ordinary' people who are losing their jobs due to the *anking crisis all over the place.
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  #251  
Old 28.07.2011, 16:41
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Re: Swiss Franc Climbs to Record High

Is it only the high flying bankers that will be loosing their jobs at UBS?

Even then the high flyers will probably still be clever enough to enjoy the strong franc.

I guess I'm too liberal to laugh in the face of other's misfortune regardless of who they are or what they've done.
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  #252  
Old 28.07.2011, 17:44
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Re: Swiss Franc Climbs to Record High

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I think the strength of the CHF is just an excuse; banks should hedge against currency fluctuations.
x
For anybody hedging against the CHF has been very expensive, you have to stump up the change in currency so a hedge you made for £1,000,000 / 2,400,000 CHF 4 years ago it would have cost you approx £850,000.
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  #253  
Old 28.07.2011, 17:50
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Re: Swiss Franc Climbs to Record High

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negative interest rates would be a good step to try to curb inflows of cash. maybe have a 100% reserve requirement on non-resident deposits, together with a 10% interest per quarter charge on non-resident deposits.

i fear however that pressure will come to take the 'easy way out' and debase the CHF and let inflation rip.
If the charge was more than 1% per year, people would hold CHF in Cash in safe deposit boxes, so that's never going to happen
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  #254  
Old 28.07.2011, 17:55
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Re: Swiss Franc Climbs to Record High

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So if I interpret that Economist article correctly, if Switzerland continues to do well despite the strong currency, this will only serve to boost confidence in the SFR and push it even higher?!?
Thats exactly why the majority of the general public loose money investing, they buy into the price rises, then buy even more because the price rose further.

They then sell because the price falls & sell more, it's funny to watch it happens again & again.
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  #255  
Old 28.07.2011, 17:59
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Re: Swiss Franc Climbs to Record High

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If the charge was more than 1% per year, people would hold CHF in Cash in safe deposit boxes, so that's never going to happen
it was 10% per quarter in the late 70s. although the CHF did continue to rise even with these measures.

holding large amounts in notes may be impractical enough the have the desired effect.

real rates are already negative for many currencies.
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  #256  
Old 28.07.2011, 18:09
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Re: Swiss Franc Climbs to Record High

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it was 10% per quarter in the late 70s. although the CHF did continue to rise even with these measures.

holding large amounts in notes may be impractical enough the have the desired effect.

real rates are already negative for many currencies.
I guess people will be getting long term fixes or bonds then.....
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  #257  
Old 28.07.2011, 18:29
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Re: Swiss Franc Climbs to Record High

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I guess people will be getting long term fixes or bonds then.....
depends if they think the negative carry will outweigh the potential gain on the principal.

many investing in the chinese yen seem happy to earn a small nominal interest...
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  #258  
Old 28.07.2011, 18:33
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Re: Swiss Franc Climbs to Record High

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Ye gods and little fishes!
With my £ and US$ pension, maybe I should 'climb to a record high' and jump
Yeah, I though this was a thread about a mountaineer from this country called Francis.
Can't beleive how worthwhile it's been waiting till the last minute to book flights to the US. It got cheaper and cheaper each week (when you book in USD).
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  #259  
Old 28.07.2011, 18:45
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Re: Swiss Franc Climbs to Record High

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So if I interpret that Economist article correctly, if Switzerland continues to do well despite the strong currency, this will only serve to boost confidence in the SFR and push it even higher?!?
The questions are whether Switzerland
IS doing well really ? most reports say that it is not
WILL be doing well ?

I mean, if the CHF gets driven up more, than the federal government will HAVE to intervene. Negative interests on foreign accounts and some other measures will become inavoidable. Mr Schneider-Ammann will get attacked from both left and right.

He anyway risks to be voted out later in the year, and if he bungles the
CHF-crisis now, he will be politically dead even before


************************************************** *********************************






porsch1909 -- Re: Swiss Franc Climbs to Record High
Is it only the high flying bankers that will be loosing their jobs at UBS?

Even then the high flyers will probably still be clever enough to enjoy the strong franc.

I guess I'm too liberal to laugh in the face of other's misfortune regardless of who they are or what they've done.


>>> I do not speak about "high flying bankers" but simply about "bank-employees" quite in general. Most of them, when you for whatever reasons, including THEIR mistakes, in other fields of the economy were badly off, were quite ready with remarks like "this is the free markets" "learn to work with your money" "we cannot help you when you are not up to your competition" "we only tell you how it is" and more and more. But when THEY are in trouble, everybody is expected to be in tears about their so tragic fate.

Last time when the banks got into trouble, the result was that "super-shops" were disappearing and prices in bars, pubs, cafés and restaurants came down a bit, so that also the present "correction" can have some quite positive results

Last edited by Wollishofener; 28.07.2011 at 18:55.
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  #260  
Old 29.07.2011, 10:49
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Re: Swiss Franc Climbs to Record High

saw the 1H results on the SNB website today:

http://www.snb.ch/en/mmr/reference/p...10729_1.en.pdf
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