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Guy Miller: Gender diversity is good for the economy and companiesGuy Miller: Gender diversity is good for the economy and companiesGuy Miller: Gender diversity is good for the economy and companies
With two women newly-elected as federal councillors, Guy Miller, chief market strategist at Zurich Insurance, praises gender diversity. But progress still needs to be made—and in Switzerland, too. Miller also shares his view on the U.S.-China truce, and what can be done to decarbonize the economy.
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Hannah Wise
The Fed will have to go back to QE, says Julius Baer
Alarm arose inside the U.S. financial system this week after a spike in demand for short-term liquidity led the Federal Reserve to intervene in the repo market. The cash crunch can’t compare to the one that aggravated the financial crisis in 2008, says Tony Campione, investment advisor at Julius Baer in Geneva. But he sees a clear need for the Fed to reassure markets, possibly with a fresh round of quantitative easing.
Hannah Wise
ECB could delve into negative-yielding corporate bonds, says M&G
Since the last quantitative easing round, regulations blocking the ECB from buying negative-yielding corporate bonds has been lifted, paving the way for the central bank to do so as part of its newly announced 12 BN euro bond purchasing program, says M&G Investment’s Wolfgang Bauer.
Hannah Wise
A Swiss economic rebound in 2020? Not so fast, says Lombard Odier
While the Swiss government slashed its 2019 growth forecast on Tuesday to 0.8 percent, down from 1.2 percent in June, it is still expecting gross domestic product to expand 1.7 percent next year. That sounds optimistic, according to Johan Utterman, head of Swiss equities at Lombard Odier IM. He says the economy may struggle to rebound next year without government support or a favorable end to the U.S.-China trade war.
Olivia Chang
Numbrs: “The world doesn’t need another bank”
Zurich-based Numbrs is the latest Swiss start-up to join the unicorn club. Fynn Kreuz, managing partner of the fintech company, talks about expansion plans and why the Swiss firm does not yet offer services in Switzerland.
Olivia Chang
UBS expects higher oil prices after the attack
Attacks on major oil facilities in Saudi Arabia have shaken up global oil markets. Giovanni Staunovo, UBS commodity analyst, sees difficult times ahead for economies and companies depending on oil imports. And for everyday consumers, he sees gas prices rising.
Hannah Wise
What to expect this week from the SNB
In a critical month for central banks, our top analysts have been divided on how the SNB should act on its monetary policy. Some push for cuts, others for more foreign exchange intervention. One thing’s for sure: Negative rates are here to stay and they continue to dominate the conversation.
Hannah Wise
Ken Fisher: ECB stimulus is "quantitative diseasing, not easing”
The ECB’s decision to relaunch its bond purchasing program is “quantitative diseasing, not quantitative easing.” This according to Ken Fisher, investor and founder of Fisher Investments, who warns that the move will set back the European economy rather than support it.
Hannah Wise
Pension reform for top earners
Despite systematic problems and a negative interest rate environment, people should put savings in the pension system as early as possible, says Werner Rutsch, head of institutional business at AXA Investment Managers. A change in regulation will help people with higher incomes to decide on their investment strategy.
Hannah Wise
Slight ECB rate cut brings relief to Switzerland’s central bank
The European Central Bank announced a fresh stimulus package and cut its deposit rate by 10 basis points today, as it looks to support the eurozone economy. But this small adjustment, says Stefan Gerlach, EFG Bank chief economist, is likely to have a “minimal effect” for the SNB, bringing some relief ahead of its next meeting.
Olivia Chang
Swiss Bankers Association to lead debate on negative rates
Swiss banks are feeling the pain from five years of negative interest rates. Swiss Bankers Association CEO Jörg Gasser says the organization will lead the debate to try come up with a sustainable solution. “They are approaching the limit,” says Gasser, “and therefore the question needs to be tackled very seriously.”
Hannah Wise
Pension survey paints worrying picture for Swiss
One in four Swiss don’t have a private pension plan yet many still want to retire early, according to a survey carried out on behalf of Raiffeisen. The findings, published Thursday, show it’s time to reform the country’s “rigid” three-pillar system, says Tashi Gumbatshang, head of asset and pension planning at the cooperative bank.
Hannah Wise
Alpiq delisting faces resistance from activist investors
Activist investors are putting up a fight against Alpiq’s majority owners, holding onto the last remaining shares that would allow them to take the energy company private. Eugen Perger, senior analyst at Research Partners, warns that in the worst-case scenario, the impasse could lead to the issue having to be resolved in court.
Hannah Wise
ECB holds key to SNB decision
The Swiss National Bank is a “prisoner” of the European Central Bank, says Rudolf Minsch, chief economist of economiesuisse. If the ECB delivers a deep-enough rate cut on Thursday, he adds, the SNB will have to follow suit—but there is a little wiggle room.
Hannah Wise
FINMA establishes new rules for Libra in Switzerland
Libra asked for clarity and FINMA delivered. New guidelines are out for stablecoins as Facebook’s Libra currency tries to gain momentum in Switzerland.
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