SNB & CHF

Summary India Prime Minister Modi has started a cabinet shuffle. Freeport McMorAn ceded control of the world’s second largest copper mine to the Indonesian government. Central Bank of Russia took over Bank Otkritie, once Russia’s largest private bank. Kenya’s top court nullified last month’s presidential election. Fitch cut Qatar’s rating by one notch to AA- with negative outlook. Chile’s economic team saw a big...

In Ian Fleming’s 1959 spy novel Goldfinger, he makes mention of the Moscow Rules. These were rules-of-thumb for clandestine agents working during the Cold War in the Soviet capital, a notoriously difficult assignment. Among the quips included in the catalog were, “everyone is potentially under opposition control” and “do not harass the opposition.” Fleming’s book added another, “Once is an accident. Twice is...

Swiss Franc The Euro has risen by 0.04% to 1.1418 CHF. EUR/CHF and USD/CHF, September 01(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates As the markets head into the weekend, global equities are firmer, benchmark 10-year yields are mostly lower, and the dollar is consolidating after North American pared the greenback’s gains yesterday. Manufacturing PMIs from China, EMU,...

– Gold surges as N. Korea fires ballistic missile over Japan– Safe haven buying sees gold break out to 10-month high after Jackson Hole and rising North Korea risk of attack on Guam – South Korea’s air force dropped eight MK 84 bombs near Seoul;  simulating the destruction of North Korea’s leadership– Gold rises from $1,291 to $1,325; Silver surges 3.2% from $17.05 to $17.60– Volatility as seen in VIX surges as stocks...

Martin Hess believes Swiss banking fortunes can lift despite ongoing challenges (Keystone) - Click to enlarge The Swiss banking sector shrank once again last year in terms of banks, profits, share of offshore wealth under management and number of employees. The Swiss Bankers Association (SBA) nevertheless believes there are positives to be found amidst the bleak figures. “In an environment where banks have to cope...

Any deal would have significant implications for Switzerland’s largest telecom, Swisscom. (© KEYSTONE / GAETAN BALLY) The cantonal government of Graubünden has demanded that the cabinet sign Switzerland up to European Union rules abolishing roaming charges. Without such an agreement, the Swiss tourist industry is at a disadvantage, the Graubünden government said in a letter sent last week to Swiss president, Doris...

Jeffrey Snider: Eurodollar University Part 1 ------------------ Erik Townsend welcomes back Jeffrey Snider to MacroVoices. Erik and Jeffrey discuss: -- How Dollar .

According to orthodox theory, if interest rates are falling because of term premiums then that equates to stimulus. Term premiums are what economists have invented so as to undertake Fisherian decomposition of interest rates (so that they can try to understand the bond market; as you might guess it doesn’t work any better). It is, they claim, the additional premium a bond investor demands so as to hold a security that...

Box Tama Vakeesan was born in Switzerland – to Tamil parents from Sri Lanka. She meets make-up artist, Kavi, and they discuss why Tamil women still try to make their skin lighter. Is it a hangover from Sri Lanka's colonial past? (SRF Kulturplatz/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For...

The Used Goods Question Retail sales in several countries like Germany, Japan and Switzerland continue to fall or they remain steady for years. In the United States they have strongly risen recently. We should remind readers, that used goods sold via Ebay or similar, are not contained in this statistics. Still they create economic value for the purchases. By mentality, Swiss, Germans or Japanese pay more attention so...