JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 12.2 percent rise in quarterly profit as revenue from fixed-income trading rebounded.
swiss national bank
For a world economy coming to terms with a soaring dollar and a plunge in oil prices, this week will be all about the U.S. Federal Reserve's policy meeting and its intentions on interest rates.
The Swiss National Bank, battling a rise in the country's currency, could push interest rates further into negative territory if the franc moves in the "wrong direction", a Swiss newspaper reported on Sunday, citing sources close to the bank.
European shares stalled and core bond yields held near lows on Monday following disappointing data from China, while Greek markets were volatile as the government pursued efforts to reach a compromise with its creditors.
After the surprises from central banks which rocked markets at the start of the year, the U.S. Federal Reserve will be watched as closely as ever this week to see that it doesn't stray from its own policy path.
Hedge fund manager Marko Dimitrijevic is closing his largest hedge fund, Everest Capital's Global Fund, having lost almost all its money after the Swiss National Bank (SNB) scrapped its three-year-old cap on the franc against the euro, Bloomberg news reported on Saturday.
"Swiss Made" has traditionally stood for quality, precision and reliability. But after a shock move to scrap the cap on the franc, it could convey a less attractive message: Made more expensive.
Asian shares stumbled on Friday and the dollar skidded against the safe-haven yen after Switzerland's central bank unexpectedly scrapped its currency cap - jolting markets already roiled by plunging commodities prices.
The Swiss National Bank faces the biggest test of its cap on the franc in two years but may find it easier to defend now than when euro zone breakup fears were rampant and the strategy unproven.
A proposal to prohibit the Swiss National Bank from selling any of its gold reserves has the support of 44 percent of the public, a closely watched survey showed on Friday, though that result falls short of the backing it needs to pass into law.
The Federal Reserve provided $240 million of liquidity to foreign central banks in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.
The Stability Fund was created as part of the bailout package of UBS AG and now, it was time for the bank to pay back the fund under a given formula.
The Swiss National Bank sold the bailout fund of UBS for USD3.762 billion.
According to SNB President Thomas Jordan, protecting the Swiss franc is imperative for economic health.
According to Thomas Jordan, Swiss National Bank Chairman, said there is a lot that needs to be done before banks can avoid harming the general economy.
Subscribe to VCpost newsletter
- How to Protect Yourself from Check Fraud: Tips and Best Practices
- Mobi: Empowering Consumer Product Companies with Real-time Sales Data
- Exploring the Future of Economic Growth: The Top 5 Special Economic Zones to Watch in 2023
- David Tomassoni (Salvaje): How the Hospitality Industry has Rebounded in the Post-Pandemic World
- How Test Automation Tools are Revolutionizing the Software Development Process
- From Shark Tank to Main Street: Kevin Harrington’s New Fintech Platform is Making Investing in Small Businesses Easier Than Ever
- Meet Kelcy Warren: The CEO Behind Energy Transfer
- World TradeX Creates Nft'S And Digital Coins With Intrinsic Value