Analysis-Swiss franc shines as investors scramble for safe assets

 https://www.globalbankingandfinance.com/analysis-swiss-franc-shines-as-investors-scramble-for-safe-assets/


LONDON/ZURICH (Reuters) – The potential for the Israel-Hamas conflict to worsen and poor corporate earnings have sent investors scrambling for safety with few havens left, as high-for-longer U.S. rate expectations batter government bonds and the yen.


Enter the Swiss franc, a longstanding safe haven asset that just hit its highest level against the euro since 2015, standing tall as its traditional rivals lose appeal.


Disappointing financial updates from the likes of European food giant Nestle and U.S. bank Morgan Stanley have added to investors’ risk-off mood. Global shares are down 1.6% this week, while Wall Street stocks lost 2% in two sessions.

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