Swiss government bonds, bond funds

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@johndoe1

There’s a huge spread between rates accessible to banks and rates accessible to retail investors in Switzerland that does not exist to this extent in the US.

I guess the way to limit debt is to issue less debt, but access to debt should be equal for retail customers, unless we want to subsidize our banking system.

I like the auction system of the US where everyone has access to.

I don’t think there’s many countries where people have access to the primary market (I assume it’s a bit of a pain for treasuries to deal with it, and it’s not their primary job vs. making sure their debt emissions are selling), and it shouldn’t be an issue since retail have access to secondary markets.

The main issue for me is the high fee of swiss brokers/banking/exchanges, which is probably due to the size of the market and lack of competition.

(If you could buy 10k worth of confederation bonds, or pfandbrief on SIX for 1-2 CHF, it would be worth it, but currently you’re more likely to have to pay 100x that in fees)