Tag Archives: G7

SNB pegs and all markets respond

By Andrew Busch | Published: September 6, 2011

Today, the Swiss National Bank announced the following:

Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro

The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a deflationary development.

The Swiss National Bank (SNB) is therefore aiming for a substantial and sustained weakening of the Swiss franc. With immediate effect, it will no longer tolerate a EUR/CHF exchange rate below the minimum rate of CHF 1.20. The SNB will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in … …READ MORE

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Risk-Off Revisit

By Andrew Busch | Published: March 17, 2011

Back on February 22nd, I warned and predicted the start of a “Risk-Off” danger zone for the financial markets.
“The global financial markets are beginning to show signs of distress and volatility after an exceptional strong rally in US equities and global risk. The market narrative is shifting from a positive discussion on earnings and a US recovery to a negative conversation over global inflation, fiscal imbalances and political turmoil. This shift should mean uncertainty will rise and investor sentiment will pullback in reaction to this unstable environment….This will generate demand for safe haven investing like buying US Treasury securities … …READ MORE

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G7 Formally Announces It's Insignificance

By Andrew Busch | Published: October 5, 2009

After the Pittsburgh summit, we found out that the major group economic decisions by large industrialized nations will be made within the G20 framework. This deflated expectations for last weekend’s G7 meeting in Istanbul. This smaller group may shrink further as the US has proposed a Seinfeld-like G4 of US, Japan, Europe, and China. Remember, one year ago the G7 issued an agenda to resolved the panic that was occurring in the financial markets.

At the meeting this year, there were the obligatory comments from Geithner that the US would do everything we can to sustain a strong, stable dollar … …READ MORE

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