Use CHF as a funding currency and stay long EUR/CHF and JPY/CHF as deflationary pressures lower the SNB’s threshold for easing. The SNB left the policy rate unchanged at 0%, reiterating that current settings remain appropriate and…
Swiss October inflation cooled further, but not enough to trigger an SNB rate cut. Headline CPI rose 0.1% y/y, slowing from 0.2% in September, while core inflation missed estimates at 0.5%, down from 0.7%. Inflation now sits at the…
Markets are increasingly pricing an end to the global easing cycle, with many central banks expected to remain on hold. But uncertainty remains high, and policy surprises are likely going into 2026. This Strategy Report breaks down…
Markets are increasingly pricing an end to the global easing cycle, with many central banks expected to remain on hold. But uncertainty remains high, and policy surprises are likely going into 2026. This Strategy Report breaks down…
Expect greater currency interventions and negative policy rates from the Swiss National Bank (SNB), reinforcing a neutral stance on CHF and Swiss sovereign debt over the next 12 months. In recent joint statement on foreign…
Monetary policy divergences are re-emerging. We rely on BCA’s Central Bank Monitor to assess the current policy stance of major central banks, and highlight the tactical opportunities across bond markets and currencies.
Hot July inflation does little to alter Switzerland’s near-term deflationary outlook, as soft data and trade risks support a defensive stance and preference for bonds over equities. CPI ticked up to 0.2% y/y from 0.1%, with core…
In this chartbook, we look at the balance of payments across DM and EM countries. The US does not fare well, but neither do a few other countries.
In this Insight, we highlight our strong conviction trades based on the central bank meetings held by the Bank of England, the Norges Bank, the Swiss National Bank and the Riksbank.
Our European Investment strategists believe Switzerland is no longer a tactical haven and recommend underweighting CHF and Swiss equities in favor of Swiss bonds. The country retains strong structural fundamentals: High productivity…