SNB & CHF

Overview: Yesterday’s late rally in US shares carried into the Asia Pacific session where all of the large markets advanced. However, the bears are not abdicating and Europe’s Stoxx 600 is off for the sixth consecutive session and US futures are trading lower. The sell-off in the bond market continues. European benchmark yields are mostly 8-10 bp higher and the US 10-year Treasury yield is up nearly five basis points to approach 3.54%. The two-year continues to...

Right-wingers are making a big deal out of the decision by people in Martha’s Vineyard not to take into their homes the immigrants that Florida Gov. Ron DeSantis shipped to them a few days ago. The right-wingers are saying that feeding the immigrants and caring for them was not sufficient. The people of Martha’s Vineyard, they say, should have taken them into their homes rather than let them be taken and housed at a nearby military base. They’re saying that this...

11:40 Der SMI notiert um 0,53 Prozent tiefer bei 10’554,85 Punkten. Laut Ansicht von BNP Paribas hat sich das Chartbild weiter eingetrübt. Bis zum Korrekturtief vom Juni bei 10’350 Punkten stelle sich nur noch das Zwischentief vom März 2021 bei 10’513 Punkten in den Weg. In der vergangenen Woche hatte der SMI mit rund 2,7 Prozent so viel verloren wie seit rund drei Monaten nicht. Die Marktteilnehmer verhielten sich vor den mit Spannung erwarteten Zinsentscheidungen...

Data published on 12 September 2022 show how the pool of available housing continues to shrink in Switzerland. Photo by ILOVESwitzerland on Pexels.comOn 1 June 2022, there were 61,496 empty dwellings in Switzerland, representing 1.31% of the total housing stock. The vacancy rate has fallen 0.23 percentage points compared to a year ago. There were 9,869 fewer empty dwellings compared to the previous year, representing a striking fall of 13.8%, wrote the Federal...

According to Jordan Peterson, left-wing totalitarians are characterized by an ideology in which group identity is paramount. I will demonstrate that this is a misconception. Historically, socialists have fought against feudalism and capitalism in the name of emancipating the individual from any kind of group or class identity. The totalitarian tendencies of socialist thinking stem from its insistence on using the state as an instrument to destroy all group identities...

Digital asset trading technology provider Portofino Technologies has raised over US$50 million in equity funding from Valar Ventures, Global Founders Capital and Coatue to scale its technology across the full crypto infrastructure value chain. The company, founded by former Citadel Securities executives Leonard Lancia and Alex Casimo, builds high-frequency trading (HFT) grade technology for institutions and Web3 projects that require digital asset liquidity....

Overview:  The busy week is off to a slow start as Japan is on holiday and the UK and Canadian markets are closed to honor Queen (Australia will commemorate with a holiday on Thursday). Nevertheless, the sell-off in equities continues and the US dollar is firm. Most of the large markets in Asia fell. India is a notable exception. Its benchmark rose for the first time in four sessions, helped by bank shares and Infosys. Europe’s Stoxx 600 is off for the fifth...

Our economic system—the market economy or cap­italism—is a system of consumers’ supremacy. The customer is sovereign; he is, says a popular slogan, “always right.” Businessmen are under the neces­sity of turning out what the consumers ask for and they must sell their wares at prices which the con­sumers can afford and are prepared to pay. A busi­ness operation is a manifest failure if the proceeds from the sales do not reimburse the businessman for all he has...

Economist and Mises Institute Associated Scholar Robert Ekelund recently teamed up with former US Senator Phil Gramm and John Early to write The Myth of American Inequality: How Gernment Biases Policy Debate.  The book was released this month by Rowman and Littlefield Publishers. In it, the authors explore some of the many ways that the debate over inequality in the United States is based on bad research, bad data, and a variety of other misconceptions. I recently...

The government plans to examine concrete and binding measures to save electricity in the coming weeks. © Keystone / Christian Beutler The Swiss government lacks up-to-date information on national electricity production and consumption, according to the Swiss Federal Office of Energy. This is due to the lack of digitalisation of the electricity companies. The lack of information was a focal point of Sunday news report amid rising concerns over an energy crunch in...