The yield on the 10-year Swiss government bond fell to near 0.20%, its lowest level since early June, as investors continued to weigh the impact of President Trump’s economic policies on the global economy and Fed policy, alongside Europe’s fiscal challenges. Attention focused on Fed Chair Jerome Powell’s upcoming speech following last week’s cautious rate cut, as well as the Swiss National Bank’s (SNB) monetary policy decision. The SNB is widely expected to keep interest rates at zero on September 25, after six consecutive cuts between March last year and June this year. Persistent low inflation and a reluctance to return to negative rates support a hold, amid ongoing economic uncertainties and geopolitical risks.