In Unprecedented Intervention, Swiss Central Bank Bails Out Firm That Prints Swiss Banknotes

In Unprecedented Intervention, Swiss Central Bank Bails Out Firm That Prints Swiss Banknotes:

In the most ironic story of the day, the company that makes the paper that Swiss banknotes are printed on was just bailed out by the money-printing, stock-purchasing, plunge-protecting, savior-of-global equities…Swiss National Bank.

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The Swiss National Bank Now Owns A Record $88 Billion In US Stocks

In a quarter in which the world was – supposedly – growing on all cylinders, and in which the S&P was making record high after record high, one central bank was quietly buying everything in sight….

The Swiss National Bank Now Owns A Record $88 Billion In US Stocks

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Swiss Banks Paid Out €1 Billion In Negative Interest Rates In The First Half

Swiss Banks Paid Out €1 Billion In Negative Interest Rates In The First Half:

Swiss banks paid 970 million Swiss francs ($1 billion) in negative interest rate charges in the first half of 2017, a 40% surge from the previous year, as clients continued to hoard even more cash despite every possible action undertaken by the central bank to force savers to spend, or better yet, invest the funds.

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The Swiss National Bank Owns $80 Billion In US Stocks – Here’s The Catch

– The Swiss National Bank Owns $80 Billion In US Stocks – Here’s The Catch:

Switzerland is a small country of just 8 million people, but they make an outsized impact on economics and finance and money.

Because Switzerland is considered a safe haven and a well-run country, many people would like to hold large amounts of their assets in the Swiss franc. This makes the Swiss franc intolerably strong for Swiss businesses and citizens.

So the Swiss National Bank (SNB) has to print a great deal of money and use nonconventional means to hold down the value of their currency. Their overnight repo rate is -0.75%.

Read moreThe Swiss National Bank Owns $80 Billion In US Stocks – Here’s The Catch

“Mystery” Buyer Revealed: Swiss National Bank’s US Stock Holdings Rose 50% In First Half, To Record $62BN

“Mystery” Buyer Revealed: Swiss National Bank’s US Stock Holdings Rose 50% In First Half, To Record $62BN:

In the second quarter, the Swiss National Bank added $7.3 billion to its US equity portfolio, and according to its just filed 13-F, is now long a record $61.8 billion in US stocks, up from $54.5 billion a month ago. In fact, rising from $41.3 billion in total US stock holdings as of December 2015, this means that the Swiss central bank increased its total US holdings by a record 50% in the first half of 2016.

As Carl Icahn Was Selling Apple, This Central Bank Was Furiously Buying

As Carl Icahn Was Selling Apple, This Central Bank Was Furiously Buying:

As Icahn was selling, or just before as we don’t know precisely when Icahn, who has since indicated he has turned massively bearish on the overall market, one entity was buying every AAPL share it could find. In fact, according to its latest 13F, everyone’s favorite central bank that openly admits it is also a wholesale buyer of stocks (with a portfolio of some $100 billion), the Swiss National Bank reveals that in Q1 it bought another 4.1 million in AAPL shares, bringing its total to a record 14.5 milion shares.

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Swiss National Bank Admits It Spent $470 Billion On Currency Manipulation Since 2010

SNB interventions

Swiss National Bank Admits It Spent $470 Billion On Currency Manipulation Since 2010:

By now it is common knowledge that when it comes to massive, taxpayer-backed hedge funds, few are quite as big as the Swiss National Bank, whose roughly $100 billion in equity holdings have been extensively profiled on these pages, including its woefully investments in Valeant and the spike in its buying of AAPL stock at its all time high.

But while the SNB’s stock holdings are updated every quarter courtesy of its informative SEC-filed 13F (we wish the Fed would also disclose the equities it holds courtesy of its Citadel proxy), getting a gllimpse of the flow is more problematic, and involves waiting for the hedge fund’s, pardon central bank’s annual report.

Read moreSwiss National Bank Admits It Spent $470 Billion On Currency Manipulation Since 2010