Interesting charts 2025 version - Thread & Discussion

General
1

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Swiss bond yields are now again back to negative in 2025 - When US bonds are near 4.5%

Who are these biggies who are buying bonds at such yields, and most importantly, why are they doing it?

What can be the logical explanation - My hunch is Swiss being the tax haven - the surplus funds generated in the west might be flowing in there.

Can there be any other reasons?

2

Are these Swiss Govt. bond yields denominated in Swiss Francs (CHF)?

If yes, then can the CHF appreciation relative to USD provide >4.5% annual returns?

3

Yes

If the bond prices fall (yields appreciate from here) and USD strengthens a bit, it’ll be a double whammy for the bond buyers