SNB reports Q1 profits of CHF 7.9bln

Swiss National Bank out with their Q12017 earnings 27 April
– profit on foreign ccy holdings CHF 5.3bln
– valuation gain of CHF 2,2bln on gold holdings
– CHF + 0.5bln profit on CHF positions essentially comes from negative interest rates on sight depo balance
SNB still having their cake and very much eating it. Their on-going intervention continues to help reverse rectify the huge losses shown in the wake of the 2015 CHF cap removal