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The Treasury Department's doubling of planned U.S. debt buybacks has intensified debate about bond market intervention and has revived the USD debasement trade, with gold and silver benefiting from a renewed focus on the fiscal position of the United States, according to analysts at Julius Baer.

Swiss bank Julius Baer said ​on Tuesday net new money for the first ‌six months of the year reached 5.7 billion Swiss francs ($7.04 billion), or annualised growth of 2.2%, beating expectations after a slow start ​to the year.

The Zurich-based lender's operating income jumped 26% reflecting higher net commission and fee income, which grew 12%.

Swiss bank Julius ​Baer on Friday announced ‌the appointment of Peter Burrill as chief financial officer and a ​member of its executive board, ​effective August 17 and subject ⁠to final regulatory approval.