(By Oliver Schlumpf, investment strategist, VP Bank) EUR-CHF rate stable for the time being The EUR-CHF exchange rate seems to be stabilizing at its new level of 1.47. If the euro loses further ground, we expect the Swiss National Bank to intervene to stabilize the CHF. The Swiss franc’s appreciation against the euro since mid-December,...

United States Obama’s budget proposal not convincing In February this year, president Obama presented his budget proposal for the fiscal year 2011 (October 2010 – September 2011). After a deficit of 9.9 per cent of GDP in 2009, the deficit is projected to grow to 10.6 per cent in 2010. He is expected to put...