The surging Swiss franc has dealt a double blow to homeowners in Austria, home of the trend for borrowing in the Swiss currency that has devastated mortgage holders across eastern Europe.
Tags: Swiss franc
Pound Fell Against Dollar Before Fed Speakers Could Impose Rate Hike
The pound fell without precedent for the first time in four days against the dollar amid speculation Federal Reserve authorities speaking Thursday will set the stage for a U.S Interest-rate increment in December.
Bond market sell-off rumbles on, stocks feel the pinch
A persistent sell-off in bond markets left financial market confidence in short supply on Thursday, with stocks lower globally and not even traditional safe havens like gold and the Swiss franc providing much of a refuge.
U.S. multinationals set to face much more pain from strong dollar
The surging value of the U.S. dollar may be posing the biggest threat to U.S. corporate earnings since the 2008 financial crisis, hurting results at most U.S.-based multinationals. Some on Wall Street are even talking about an earnings recession.
SNB considering higher negative interest rates: Schweiz am Sonntag
The Swiss National Bank, battling a rise in the country's currency, could push interest rates further into negative territory if the franc moves in the "wrong direction", a Swiss newspaper reported on Sunday, citing sources close to the bank.
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After a head-spinning bout of volatility, next week will be dominated by one question: Will the European Central Bank take the ultimate policy leap or pull its punches?
Hedge fund manager Marko Dimitrijevic is closing his largest hedge fund, Everest Capital's Global Fund, having lost almost all its money after the Swiss National Bank (SNB) scrapped its three-year-old cap on the franc against the euro, Bloomberg news reported on Saturday.
According to SNB President Thomas Jordan, protecting the Swiss franc is imperative for economic health.
Russia's Gazprombank has withdrawn from the Swiss franc Tier 2 Bond deal, source revealed. (Photo : maximzimin. com)Gazprombank pulls out of deal allegedly While the third largest bank belonging to the Russian Federation, Gazprombank, has yet to give an official statement on this move, the source confirmed that the bank preferred to wait for better market conditions before continuing on with the Swiss Franc Tier 2 deal.
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