SNB Chairman Schlegel says the central bank would intervene if price stability were at risk; there have not yet been any significant second-round effects

Newsquawk Staff · 5 Nov 2026, 07:40 UTC

SNB Chairman Schlegel says the central bank would intervene if price stability were at risk; there have not yet been any significant second-round effects.

What our morning note said

EU Market Open, 5 Nov, 06:44 UTC · what it led with

US President Trump said it was "largely true" that Republicans lost the midterms because of the Iran war, while he said he is not replacing War Secretary Hegseth.
DXY remained subdued post-Midterms alongside lower yields; USTs and Bunds extend gains as lower oil eases inflation concerns.

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Headlines that moved markets

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Riksbank maintains its rate at 1.75% as expected; assesses that the probability of a rate increase later this year remains; there is considerable uncertainty and developments call for vigilance
EUR/SEK+0.3%
Norges Bank maintains its rate at 4.25% as expected; may still become necessary to raise the policy rate
EUR/NOK+0.6%
"We are interested in the diplomatic track, but without making concessions", Al Arabiya citing an Iranian diplomatic source.
WTI crude+0.8%

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