The Latest Breaking News from the Swiss National Bank

The dollar index (DXY00 ) today is up +0.03%. The dollar today climbed to a 2-week high and is slightly higher after US Nov PPI rose more than expected, which pushed T-note yields higher and was hawkish for Fed policy. Also, weakness in the euro is supportive of the dollar...

The Swiss central bank announced an unexpectedly large interest-rate cut on Thursday, citing rising "uncertainty" about the economic outlook due to the potential impact of Donald Trump's policies and political turmoil in Europe.

Swiss taxpayers are off the hook from a government-engineered rescue plan that doled out billions to help UBS, the country’s largest bank, take over its ailing rival Credit Suisse

Could isolated failures herald another global banking crisis?

Swiss bank UBS agreed to buy Credit Suisse Sunday in a government-backed deal; First Republic downgraded, plans stock sale.

As Switzerland’s second biggest lender, Credit Suisse was considered one of the top 30 most important banks in the world

Stock futures slip lower as banking crisis spreads; Week Ahead: Fed meeting in focus as rate bets mixed; UBS buys credit Suisse for $3.3 billion, gets massive government support; First Republic shares slump after second S&P downgrade and New York Community Bancorp cuts deal to buy Signature Bank.

Holders of riskier AT1 bonds, which are wiped out under deal with UBS, consider legal action.

The merger of two Swiss banks will result in layoffs in Switzerland and the U.S.