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Middle East war feeding uncertainty over economic outlook, SNB minutes show

BY Reuters | ECONOMIC | 03:47 AM EDT

ZURICH, April 16 (Reuters) - Uncertainty over the economic outlook for Switzerland has risen due to the conflict in the Middle East and global developments pose the main risk for inflation, minutes of the Swiss National Bank's latest rate-setting meeting showed on Thursday.

"The main risk to the economic and inflation outlook for Switzerland stems from developments in the global economy," the central bank said in a statement. (Reporting by Dave Graham, Editing by Friederike Heine)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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