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iShares MSCI Switzerland Capped ETF (EWL)

  • Thu, Sep. 17, 4:49 AM
    | Thu, Sep. 17, 4:49 AM | Comment!
  • Thu, Sep. 17, 4:00 AM
    • It looks like the the Swiss National Bank is done with its surprises for the year. As widely expected, the central bank kept its benchmark interest rate on hold today at a record low of -0.75%.
    • In January, the SNB roiled markets by removing the upper limit on the Swiss franc, allowing it to massively appreciate.
    • "Overall, the Swiss franc is still significantly overvalued, despite a slight depreciation," the central bank said. "Negative interest rates and the SNB's willingness to intervene as required make investments less attractive...easing pressure on the franc."
    | Thu, Sep. 17, 4:00 AM | 1 Comment
  • Thu, Jun. 18, 4:13 AM
    • The Swiss franc extended its upbeat momentum this morning, despite the Swiss National Bank maintaining its deposit rate at a record low of -0.75% and warning it's ready to take further action to reduce the impact of the overvalued franc.
    • Consumer prices are falling and the Swiss economy is on the verge of its first recession in six years after the SNB's shock decision to unpeg its currency from the euro in January.
    • Since then, the franc has risen 15%, undermining exports and pushing down import costs.
    • Franc +0.3% to $1.0881.
    • ETFs: FXF, EWL, SWZ, FSZ
    | Thu, Jun. 18, 4:13 AM | Comment!
  • Fri, May 29, 2:39 AM
    • Switzerland's economy contracted the most since the financial crisis in Q1 as the strong franc took a toll on exports.
    • Gross domestic product fell by 0.2% in the first three months of 2015 compared to revised growth of 0.5% in the prior period.
    • The outlook for the economy suffered a blow in January when the Swiss National Bank removed its currency cap, causing the franc to rally 15% vs. the euro during the quarter.
    • ETFs: FXF, EWL, SWZ, FSZ
    | Fri, May 29, 2:39 AM | 2 Comments
  • Wed, Apr. 8, 7:32 AM
    • Switzerland laughs at Japan. The country today sold about $391M of long-term debt, with the 10-year portion of the paper priced to yield -0.055% - thus becoming the first country to get paid for borrowing as far as ten years out.
    • In the secondary market, Swiss notes maturing up to 11 years trade with yields less than 0%.
    • ETFs: EWL, FXF
    | Wed, Apr. 8, 7:32 AM | 19 Comments
  • Sat, Feb. 7, 2:11 PM
    • The Swiss National Bank had no option but to exit its minimum exchange rate policy as "the international environment had changed," said the head of the central bank, Thomas Jordan, citing the ECB’s new QE policy.
    • This would have put "enormous pressure on the franc" and forced the SNB to buy around 100B francs' ($108M) worth of foreign currency a month to defend the cap of 1.20 francs to the euro, he added.
    • The SNB unexpectedly scrapped its cap on the franc last month, sending the Swiss stock market plunging and pushing the franc to record highs.
    • "Economic growth will certainly be weaker than we forecast in December, and its possible we could have one or two quarters of negative quarterly growth," warned Jordan.
    | Sat, Feb. 7, 2:11 PM | 8 Comments
  • Fri, Jan. 30, 5:41 AM
    • Heightening the risk of a slide toward deflation, Eurostat today reported the largest decline in consumer prices in the eurozone since July 2009.
    • Consumer prices were 0.6% lower than in January 2014, having fallen 0.2% on an annual basis in December.
    • The plunge in consumer prices is unlikely to have an immediate effect on the ECB's €60B/month QE package, although the longer prices stay in negative territory, the more pressure the central bank will have to extend the program.
    • FTSE 100 -0.6%; DAX -0.5%; CAC 40 -0.7%; Euro Stoxx 50 -0.5%.
    | Fri, Jan. 30, 5:41 AM | 5 Comments
  • Mon, Jan. 19, 6:19 AM
    • After taking a beating last week following the SNB's surprise move to abandon the franc’s cap, Swiss stocks regained some stability today, with the Swiss Market Index up 3.2%.
    • Following the decision, the SMI plunged over 14% through Friday while the franc soared.
    • The franc still remains pinned at sky-high levels, hovering around one-to-one against the euro.
    • ETFs: FXF, EWL, FSZ
    | Mon, Jan. 19, 6:19 AM | Comment!
  • Fri, Jan. 16, 3:51 AM
    • Sovereign bonds rallied across Europe and Swiss stocks tumbled for a second day after the SNB surprised markets on Thursday by abandoning the franc’s cap.
    • Yields on 10-year notes from Germany, France and the U.K. dropped at least two bps this morning, while rates on Australian and Japanese debt touched record lows.
    • The Swiss Market Index is now down 4%, after slumping 8.7% yesterday, its biggest one-day drop since 1989.
    • ETFs: EWL, FSZ
    | Fri, Jan. 16, 3:51 AM | 1 Comment
  • Thu, Jan. 15, 7:09 AM
    • The Swiss market index is off by 11% after the SNB gives up its fight to cap the strength in the franc by defending the CHF 1.20 floor vs. the euro.
    • Interestingly, the iShares MSCI Switzerland ETF (NYSEARCA:EWL) is up 2.4% premarket as it's priced in dollars and the franc is higher by 16%.
    • There's no premarket action yet in the CurrencyShares Swiss Franc Trust (NYSEARCA:FXF).
    | Thu, Jan. 15, 7:09 AM | 13 Comments
  • Dec. 31, 2014, 11:34 AM
    | Dec. 31, 2014, 11:34 AM | Comment!
  • Dec. 18, 2014, 7:29 AM
    • Attempting to defend its CHF1.20 floor for the euro, the SNB cuts its deposit rate to negative 0.25%, and expands its target range for three-month Swiss libor to -0.75% to 0.25%. Negative rates will be imposed on balance above CHF10M.
    • "The SNB reaffirms its commitment to the minimum exchange rate of CHF 1.20 per euro, and will continue to enforce it with the utmost determination."
    • Against the dollar, the franc (NYSEARCA:FXF) is off 0.65% to its lowest in more than two years, and it's weaker by 0.3% vs. the euro to CHF1.2046.
    • The Swiss stock market (NYSEARCA:EWL) is higher by 2%, inline with a broad European rally.
    | Dec. 18, 2014, 7:29 AM | 3 Comments
  • Nov. 21, 2014, 7:27 AM
    | Nov. 21, 2014, 7:27 AM | 10 Comments
  • Aug. 14, 2014, 6:46 AM
    | Aug. 14, 2014, 6:46 AM | Comment!
  • Jun. 5, 2014, 7:55 AM
    | Jun. 5, 2014, 7:55 AM | Comment!
  • May 19, 2014, 4:44 AM
    • Swiss voters have overwhelmingly rejected a proposal to institute a minimum wage of 22 Swiss francs ($25) an hour, which would have been the highest in the world. Over 76% of voters cast a "no" ballot.
    • "It's a strong sign to Switzerland as a center of employment," Economy Minister Johann Schneider-Ammann said. "Accepting the initiative would have led to job cuts in economically weak, rural areas."
    • Major corporations that could have been affected by a "Yes" vote include UBS (UBS), Credit Suisse (CS), Roche (RHHBY), Novartis (NVS), ABB (ABB), Glencore Xstrata (GLCNF) and Nestle (NSRGY).
    • Switzerland's SMI index is -0.8%, while the USD-CHF is -0.1% at 0.8914 francs.
    • ETFs: FXF, EWL, FSZ
    | May 19, 2014, 4:44 AM | 1 Comment
EWL Description
The iShares MSCI Switzerland Capped Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Switzerland 25/50 Index (the “Underlying Index”).
See more details on sponsor's website
Country: Switzerland
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