The Swiss National Bank (SNB) increased its exposure to government bonds in the last quarter of 2019, according to official data released today (January 31).

The share of the institution’s international reserves invested in safer government assets was raised to 69%, up from 68% in the third quarter of last year. This came at the expense of the part of the portfolio invested in corporate bonds, covered bonds, government bonds issued in foreign currency or by foreign local authorities, which