Ralph Weidenmann, Partner
Spain has to keep saving. Interest rates for European debtor nations rise again. Holding bonds is risky, not only for banks. The Swiss franc recently gained strength again. The biggest gains were posted versus the yen: Since the beginning of the year, the Japanese currency has lost over seven percent relative to the franc. Euro tests the bottom Although the >>
We recommend taking the profits in corporate bonds, but we’re isolated with this opinion. Rift in subordinated debt market for equity coverage. As suggested in the last issue of partners’ view, gold is hardly appealing to buyers and is correcting from its high level. The higher risk tolerance among investors has resulted in profit-taking in gold which was added to >>
Norway and Sweden are struggling with strong currencies and their negative impact on their respective domestic economies. Attractive borrowing terms for Spain and France, but who’s buying? The Bank of England is redoubling its expansive monetary policy with another round of quantitative easing worth GBP 50 billion. This amount, too, will be used to buy British government bonds. As a >>
Political wrangling over SNB paralyzes monetary policy. Independence in monetary policy is pointless for Hungary. Northern Europe has surpluses. The expected increase of the current minimal exchange rate of the euro versus the Swiss franc – endorsed by all political factions and industry associations – will inevitably be postponed with the straitjacketing of the SNB board. The pegging of the >>
No added value with the Norwegian krone in 2011. Yet again, rating agencies provoke outrage. Merkel and Sarkozy as euro debt solution developers. Although the Norwegian krone (NOK) recently gained somewhat versus the Swiss franc, the true barometer is the euro, not the franc. The NOK is more attractive than the EUR in every respect, but the diversification into NOK >>
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