--- title: Syz The Moment | switzerland (6) description: switzerland | Syz The Moment (6) --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. 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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 25 Sep 2024 - - - #### UBS is ahead of schedule on cost savings according to CEO S. Ermotti Source: Reuters [#banking|](https://blog.syzgroup.com/syz-the-moment/tag/banking) [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![UBS is ahead of schedule on cost savings according to CEO S. Ermotti](https://blog.syzgroup.com/hubfs/1-Sep-25-2024-12-40-53-5919-PM.png) ![UBS is ahead of schedule on cost savings according to CEO S. Ermotti](https://blog.syzgroup.com/hubfs/1-Sep-25-2024-12-40-53-5919-PM.png) 23 Sep 2024 - - - #### 😱 The "shocking chart" of the day !!! 😱 Since 2011, the swissie is up more than 25% against euro. Despite this, industrial production growth in switzerland has INCREASED by 40% while it has DECREASED by 5% in germany and is roughly flat in the eurozone. Note the huge trend divergence since covid... HOP SCHWEIZ ! Source: Syz research [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![😱 The ](https://blog.syzgroup.com/hubfs/1727081663294.jpg) ![😱 The ](https://blog.syzgroup.com/hubfs/1727081663294.jpg) 16 Sep 2024 - - - #### Saud Central Bank Secretly Bought 160 Tonnes Of Gold In Switzerland - www.zerohedge.com. According to Jan Nieuwenhuijs via Money Metals (and published on zerohedge), the Saudis have joined other Asian countries in ditching their long-term sensitivity to the gold price. Evidence suggests the Saudi central bank has been covertly buying 160 tonnes of gold in Switzerland since early 2022, contributing to the current gold bull market. [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![Saud Central Bank Secretly Bought 160 Tonnes Of Gold In Switzerland - www.zerohedge.com.](https://blog.syzgroup.com/hubfs/1726427258419.jpg) ![Saud Central Bank Secretly Bought 160 Tonnes Of Gold In Switzerland - www.zerohedge.com.](https://blog.syzgroup.com/hubfs/1726427258419.jpg) 27 Aug 2024 - - - #### Nestlé CEO departure \*not such a bad thing" Source: CNBC [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![Nestlé CEO departure \*not such a bad thing](https://blog.syzgroup.com/hubfs/Capture-Aug-27-2024-08-06-34-9598-AM.png) ![Nestlé CEO departure \*not such a bad thing](https://blog.syzgroup.com/hubfs/Capture-Aug-27-2024-08-06-34-9598-AM.png) 8 Aug 2024 - - - #### Switzerland is considering imposing a tax on large inheritance targeting the super-rich Source: Bloomberg [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![Switzerland is considering imposing a tax on large inheritance targeting the super-rich](https://blog.syzgroup.com/hubfs/Capture-Aug-08-2024-09-29-28-2679-AM.png) ![Switzerland is considering imposing a tax on large inheritance targeting the super-rich](https://blog.syzgroup.com/hubfs/Capture-Aug-08-2024-09-29-28-2679-AM.png) 20 Jun 2024 - - - #### The SNB has lowered its key rate again today, to 1.25%, after the previous 25bp cut decided in March The view by our Chief Economist Adrien Pichoud: • Going forward, we believe that the SNB is now done with the recalibration of its monetary policy and that it shouldn’t cut rate further this year. • Swiss monetary policy can now be deemed as “neutral” for inflation and economic activity, as the real short term rate is close to 0% (actually just below with a cash rate of 1.25% and an inflation rate of 1.4%). • Provided growth remains on a gradual upward trend toward potential in 2025 (1.5%) and there is no unexpected development on the inflation front, there will be no reason for the SNB to lower further the CHF short term rate. • Should European or global developments trigger volatility and upward pressures on the CHF, we believe the SNB would rather resort to interventions on the FX market to manage the impact on the economy, rather than use the interest rate lever. [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![The SNB has lowered its key rate again today, to 1.25%, after the previous 25bp cut decided in March](https://blog.syzgroup.com/hubfs/1718871965807.jpg) ![The SNB has lowered its key rate again today, to 1.25%, after the previous 25bp cut decided in March](https://blog.syzgroup.com/hubfs/1718871965807.jpg) 3 Jun 2024 - - - #### At 8.17 U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2024 Big Mac index. Concurrently the cost of a Big Mac was 5.69 dollars in the U.S., and 5.87 U.S. dollars in the Euro area. What is the Big Mac index? The Big Mac index, published by The Economist, is a novel way of measuring whether the market exchange rates for different countries’ currencies are overvalued or undervalued. It does this by measuring each currency against a common standard – the Big Mac hamburger sold by McDonald’s restaurants all over the world. Twice a year the Economist converts the average national price of a Big Mac into U.S. dollars using the exchange rate at that point in time. As a Big Mac is a completely standardized product across the world, the argument goes that it should have the same relative cost in every country. Differences in the cost of a Big Mac expressed as U.S. dollars therefore reflect differences in the purchasing power of each currency. Source: Tavi Costa, Crescat Capital, Statista, The Economist [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![At 8.17 U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2024 Big Mac index.](https://blog.syzgroup.com/hubfs/14-Jun-03-2024-03-22-08-8517-PM.jpg) ![At 8.17 U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2024 Big Mac index.](https://blog.syzgroup.com/hubfs/14-Jun-03-2024-03-22-08-8517-PM.jpg) 9 Apr 2024 - - - #### A great chart by Quartr about swiss luxury giant Richemont In 1987, Bernard Arnault created $LVMH. In 1988, Johann Rupert created richemont $CFR.SW – an acquisition-driven luxury group much like LVMH, and to date, one of Arnault's largest competitors. Richemont is now the second largest luxury conglomerate and the third largest luxury company (with $RMS being the second) in the world. The group's many prestigious maisons include Cartier, Van Cleef & Arpels, Montblanc, Piaget, and Vacheron Constantin, to name a few. Since inception, Richemont has compounded its top line at 5% per year. Looking instead at the last 15 years, the group has grown its revenue and FCF at a 6% and 9% CAGR respectively. Quartr just created this infographic, mapping out every acquisition since Richemont's inception. [#Food for Thoughts|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) [#switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) ![A great chart by Quartr about swiss luxury giant Richemont](https://blog.syzgroup.com/hubfs/2-Apr-09-2024-07-50-18-6436-AM.jpg) ![A great chart by Quartr about swiss luxury giant Richemont](https://blog.syzgroup.com/hubfs/2-Apr-09-2024-07-50-18-6436-AM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/5) [4](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/4) [5](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/5) [6](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/6) [7](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/7) [8](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/8) [❯](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/7) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/switzerland/page/8?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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