SNB & CHF

The survey found that the pay gap between the highest and lowest earners decreased only very slightly in the years between 2008 and 2016, A government survey analysing wage structures in the Alpine nation found that the median salary for a full-time job in 2016 was CHF6,502 ($6,509) for the entire Swiss economy. The bottom 10% of Swiss earners had a salary of less than CHF4,313 ($4,317), while the best paid 10% earned...

Switzerland is obliged to forward tax information that might interest partner states. For the first time, Switzerland’s Federal Tax Administration (FTA) has sent details on advance tax rulings to its partners in the spontaneous exchange of information deal. The FTA announced on Tuesdayexternal link that it had transmitted a first batch of 82 reports to a total of 41 states, including Britain, France, Germany, the...

Swiss Franc The Euro has fallen by 0.10% to 1.1939 CHF. EUR/CHF and USD/CHF, May 14(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is sporting a softer profile against most of the major and emerging market currencies to start the new week. It already seemed to be tiring in the second half of last week. With today’s mild losses, Dollar Index is off for a...

Geopolitical issues will continue to bubble below the surface for the capital markets. The fallout from the reimposition of US sanctions on Iran has apparently helped lift oil prices in the face of the rising dollar, which often acts as a drag.  In the coming days, the US will take the symbolic step of moving its embassy to Jerusalem. The conflict between Israel and Iranian forces in Syria is escalating. Meanwhile, US...

Stock Markets EM FX ended Friday on a week note and capped of another generally negative week.  Worst performers last week were ARS, BRL, and TRY while the best were ZAR, RUB, and KRW. We remain negative on EM FX and look for losses to continue. US retail sales data Tuesday pose further downside risks to EM FX. Stock Markets Emerging Markets, May 08 - Click to enlarge India India reports April WPI and...

“Literally On Fire” This week brought forward more evidence that we are living in a fabricated world. The popular story-line presents a world of pure awesomeness. The common experience, however,  falls grossly short. There are many degrees of awesomeness, up to total awesomeness – which is where we are these days, in the age of total awesomeness, just a short skip away from the Nirvana era. - Click to enlarge What is...

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The cliché of Swiss trains always being on time is challenged by data published on the website opentransportdata.swiss. © Arne9001 | Dreamstime.com - Click to enlarge Analysis of this data by 20 Minuten, shows the most frequently delayed trains arrive from Italy. Mendrisio, near the Italian border in the canton of Ticino, was the worst performing station with 30% of trains delayed by 3 minutes or more. Italian delays...

How do we explain our obsession with relatively low risk dangers and our collective blindness to manufactured/marketed scourges that kill tens of thousands of people annually? If you’ve bought a new vehicle recently, you may have noticed some “safety features” that strike many as Nanny State over-reach. You can’t change radio stations, for example, if the vehicle is in reverse. Who knows who or what you’ll run over in...

Global demand for gold is increasing while new discoveries of gold remain small Gold mining output in Australia is forecast to decrease by 50% in the next eight years Decline in global gold mining supply makes a price increase almost certain The demand for gold is increasing, yet new discoveries of the precious metal have not kept pace with the demand. Funds for exploration are historically high, $54.3 billion, up 60...