Asian Shares Post Modest Gains Before US Payrolls: Markets Wrap
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(Bloomberg) — Asian shares edged up in the leadup to US jobs data, after stocks hit another record following Donald Trump’s announcement of a trade deal with Vietnam.
S&P 500 Hits Record on Vietnam Deal as Tech Climbs: Markets Wrap
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(Bloomberg) — A rally in several big techs fueled gains in stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a selloff in UK bonds underscored deficit worries. The dollar was steady.
Swiss-Norway Group and South America’s Mercosur Agree on Free-Trade Deal
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(Bloomberg) — The European Free Trade Association of Switzerland, Norway, Liechtenstein and Iceland concluded negotiations on a free-trade agreement with South America’s Mercosur countries in a push for more transatlantic commerce.
Ex-UBS CFO Wins UK Top Court Case Over £133 Million Divorce
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(Bloomberg) — A former UBS Group AG executive can hold onto the majority of his wealth after the UK’s top court ruled in his favor in a divorce fight with his ex-wife over the split of their £133 million ($182 million) estate.
Private Equity Is Struggling to Overcome Doubts on Valuations
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(Bloomberg) — Blackstone Inc., Apollo Global Management and a host of private-capital mammoths have pledged to invest hundreds of billions of dollars in Europe over the next decade. But the immediate outlook for buyout deals is still looking pretty dicey.
Swissquote Ordered by Regulator to Slash Suspicious Activity
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(Bloomberg) — Switzerland’s financial watchdog has stepped up pressure on trading platform Swissquote Group Holding SA to do more to curb suspicious activity amid a surge in attempted fraud and hacks.
Wall Street Revives Big-to-Small Stock Rotation: Markets Wrap
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(Bloomberg) — Wall Street traders drove a rotation out of the tech megacaps that had powered stocks from the brink of a bear market. Bond yields rose as an increase in job openings dimmed the outlook for Federal Reserve rate cuts. The dollar remained at its lowest since 2022.
Vitol Launches Mine Finance Fund as Competition Grows for Metals
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(Bloomberg) — Vitol Group and Breakwall Capital have formed a credit fund targeting mining companies in the Americas, as competition among traders for copper and other metals contracts heats up.
Swiss to Vote on 50% Inheritance Tax for Super-Rich in November
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(Bloomberg) — Swiss voters will decide in November if the country should inflict a large inheritance tax on the estates of very rich people.
IMF Backs Swiss Bank Reform Push Amid UBS Capital Standoff
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(Bloomberg) — Switzerland’s planned financial regulation reforms are “bold” and should make the country more resistant to crises, the International Monetary Fund said, giving tacit support to the government in its standoff over capital with UBS Group AG.
Swiss Manufacturing Jumps on Hope for Tariff Deal With US
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(Bloomberg) — Swiss manufacturing rose much more than anticipated in June, reflecting hope that a solution to the ongoing tariff spat with the US can be found as the July 9 deadline looms.
S&P 500 Climbs at End of Best Quarter Since 2023: Markets Wrap
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(Bloomberg) — Wall Street’s bulls drove stocks to all-time highs at the end of a solid quarter amid hopes the US is moving closer to reaching concrete deals with its top trading partners. Bets the Federal Reserve will resume rate cuts powered the best first-half stretch for Treasuries in five years. The dollar saw its longest monthly slide since 2017.
Swiss Sight Deposits Soar After SNB Introduced Zero Rate Regime
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(Bloomberg) — Sight deposits at the Swiss National Bank rose sharply after its reduction of borrowing costs to zero, as foreign banks moved cash to the institution to escape negative interest paid in the money market.
UBS Starts Planned $2 Billion Share Buyback Amid Capital Debate
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(Bloomberg) — UBS Group AG is launching a previously-announced share buyback of as much as $2 billion, amid uncertainty over the bank’s longer-term payout plans.
SNB Stayed Out of FX Market as Franc Slumped in First Quarter
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(Bloomberg) — The Swiss National Bank continued to refrain from steering the franc at the beginning of the year, largely staying out of currency markets for a fifth consecutive quarter while the currency lost value against the euro.
Powell and Lagarde Count Cost of Trump’s Turbulence
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(Bloomberg) — The global economy’s concussion from five months of Donald Trump’s presidency is likely to feature when five of the world’s leading central bank chiefs discuss monetary policy in public on Tuesday.
S&P 500 Hits Record High After $10 Trillion Rally: Markets Wrap
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(Bloomberg) — Wall Street traders dodged a flurry of tariff headlines to drive stocks to all-time highs, capping a week that saw a cooling in Middle East risks and signs the US economy is holding up amid subdued inflation. A rally in Treasuries stalled. The dollar advanced.
Germany Considers Tighter Investment Rules Amid Nord Stream 2 Rumors
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(Bloomberg) — The German government is examining measures that could help it stop a potential sale of the Nord Stream 2 pipeline after speculation emerged earlier this year over reviving pipeline gas deliveries from Russia.
Stock Bulls Drive S&P 500 to Brink of Record High: Markets Wrap
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(Bloomberg) — Wall Street’s renewed push toward all-time highs saw stock investors setting aside recent geopolitical fears amid hopes that a resumption of Federal Reserve rate cuts will fuel the outlook for the economy and Corporate America. Treasury yields fell alongside the dollar.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
