1.   A stronger franc, coupled with weak inflation, boosts the value of Swiss fixed-income assets relative to those in other markets.

2.   A stronger franc hampers Swiss exports and depresses growth.

3.   A stronger franc makes imports cheaper.

4.   Swiss government bonds received some support from the stronger franc, which made Swiss franc-denominated assets more attractive for investors.

5.   The stronger Swiss franc helped make Swiss bonds more valuable, and therefore more attractive, when compared with fixed-income assets denominated in other currencies.

6.   The euro is at its highest level since early January, with the Swiss franc even stronger.

7.   The profit also was due to a stronger franc compared to the dollar.