The Swiss National Bank is pursuing a steady monetary policy and leaving its key interest rate at 0%, which is reasonable given the current economic and political situation.
The Swiss economy is performing relatively well despite the US tariff shock, core inflation remains within a healthy range, and the ECB is also keeping key interest rates constant for the time being and is likely to continue to do so, meaning that the Swiss franc has hardly changed against the euro since the end of June. The hashtag#SNB mentions the great uncertainty surrounding the Swiss export sector, which is also the biggest question mark in our economic outlook for Switzerland at present. Should a significant deterioration manifest itself here, the SNB could come under greater pressure to lower interest rates below zero after all. The SNB's inflation forecasts also remain stable compared with the June forecast and are even rising slightly in the second quarter of 2028, which was forecast for the first time. Today's decision is therefore understandable across the board and should come as no surprise to the stock markets.
In Germany, the short-lived rally at the start of the year has already fizzled out.
The country is losing ground on the global stage: German stocks now make up just 2.1% of global market capitalization, down from 2.4% only three months ago. Source: Bloomberg, HolgerZ
The S&P 500's best-performing stock of 2025: Robinhood
Source: Brew Markets
A new Bank of America survey shows 75% of investors have ZERO exposure to cryptocurrencies.
Now, US lawmakers are requesting the SEC implements President Trump's Executive Order allowing 401(K)s to BUY cryptos. Source: Bank of America, The Kobeissi Letter
For the first 11 months of FY2025, the U.S. deficit has already hit $1.97 trillion.
That’s the 3rd-largest in history and the year isn’t even over yet. Source: StockMarket.News @_Investinq
The S&P 500 Shiller P/E ratio has surpassed 40x for the first time since the 2000 Dot-Com Bubble BURST.
The US stock market has ALMOST NEVER been so expensive. Source: Global Markets Investor
Central Banks are buying MASSIVE amounts of gold:
In July, world central banks acquired 48 tonnes of gold, above 2024 figures, according to Goldman Sachs estimates. Year-to-date, central banks have bought an average of 64 tonnes of gold per month. Gold demand is strong. Source: Global Markets Investor, Goldman Sachs
The US Government is reportedly seeking to buy up to a 10% equity stake in Lithium Americas $LAC
+73% after-hours (CNBC) Source: Reuters
