Swiss Headlines

The Swiss Franc moved only marginally against its counterparts due to lack of any economic releases and closure of equity and bond markets in celebration of the National Day.

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Headlines:[/U][/B]
[B]Swiss Celebrate National Day Worldwide[/B]
The whole country gathered in public places around bonfires and listen to speeches about the independence of the country from the Austrian rulers, which started with the Grütli Pact of 1291. Swiss cheese in Zimbabwe, sausages in Paris and Alpine horns in Washington - these are just some of the ways Swiss National Day is being celebrated abroad. For many of the around 650,000 Swiss who live overseas, the event is important way to keep in touch with their homeland. It enables them to introduce some traditional Swiss customs to their new countries as well.


Source: Swissinfo.org

[B]Switzerland to Push For Car Emissions Reductions[/B]
The Swiss Environment Agency is working on a rank of the most eco-friendly vehicle models. The list adds up to efforts to tackle car emissions through stricter legislation, which also include new emission labels and taxation. The ranking is the latest in a series of measures to cut car emissions in Switzerland. The new KeeF criteria form part of a plan to revise existing energy labels on new cars and introduce CO2-based taxation.

http://www.r744.com/news/news_ida167.php
Source: R74.com

[B]Calmy-Rey calls on Swiss Abroad to Vote[/B]
The Swiss president in 2007, Micheline Calmy-Rey, has called on the Swiss living abroad to let their voice be heard at the forthcoming federal elections in October. In a speech to them marking Switzerland’s National Day, Calmy-Rey said it was no exaggeration to say the country had largely achieved the dream of a life of freedom, peace and justice.


Source: Swissinfo
[B]Currency Market:[/B]
The Swiss Franc moved only marginally against its counterparts due to lack of any economic releases and closure of equity and bond markets in celebration of the National Day. As of 12:00 EST, USDCHF was trading at 1.2014. The effect of risk aversion still persists as new stories of credit concerns keep developing sending pushing Swiss Franc and Yen further high.

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Equity Market: Swiss Market Index:[/B]
Markets were closed in celebration of the National Day
[B]Fixed-Income Market: 10-Year Swiss Government Bonds[/B]
Markets were closed in celebration of the National Day