SNB & CHF

Are investors at the point of maximum pessimism? Alhambra CEO Joe Calhoun talks about a horrible 3rd quarter, sentiment, and where investors can look right now. [embedded content] [embedded content] Tags: Alhambra Research,Bonds,commodities,currencies,economy,Featured,Federal Reserve/Monetary Policy,Markets,newsletter,Real Estate,stocks

Goodbye and good riddance to the third quarter of 2022. That was one of the wildest 3 months I’ve experienced in my 40 years of trading and investing. The quarter started off great with the S&P 500 rising 14% from July 1 to August 16 but ended with a 17% swan dive into the end of the quarter. And we closed on the low of the year. The 10-year Treasury yield rose from 2.97% to 4% just a few days before the end of the quarter. The 3-7 year Treasury index – our...

Bank of England responds to gilts, but is it guilty of nothing more than being the first of many more to come? Talking it over with Steve Van Metre, we find that markets aren't pricing this as an England thing, nor a Bank of England thing, rather just the beginning of a global deflationary wave all central banks will have to deal with before too long. Eurodollar University Conversations, featuring Steven Van Metre. Twitter: https://twitter.com/JeffSnider_AIP...

Bank of England responds to gilts, but is it guilty of nothing more than being the first of many more to come? Talking it over with Steve Van Metre, we find that markets aren't pricing this as an England thing, nor a Bank of England thing, rather just the beginning of a global deflationary wave all central banks will have to deal with before too long. Eurodollar University Conversations, featuring Steven Van Metre. Twitter: https://twitter.com/JeffSnider_AIP...

Overview: The markets begin October with some trepidation.  Rumors continue to circulate about the health of a large European bank, cross currency swaps are elevated, suggest dollars are more difficult to access.  The S&P 500 settled on new lows for the year at the end of last week.  China and South Korea on closed for national holidays. Chinese market will not open until next week, and Hong Kong markets are closed tomorrow.  While the Nikkei advanced, the other...

The Swiss franc has hit an all-time high against the euro. Even though it trades at an unprecedented CHF0.95 to the euro, the strong franc no longer poses a threat to the Swiss economy. What has changed in the last ten years? More from this author On September 6, 2011, at 10am, the then president of the Swiss National Bank (SNB) Philipp Hildebrand made an important announcement to the media: “With immediate effect, the SNB will no longer tolerate a...

Landlords and tenants are opposing government calls to reduce household heating to 19 degrees Celsius, warning it might spark a flurry of lawsuits. The Swiss Real Estate Association, which represents landlords, warns that turning down the heating in rented accommodation could result in a legal backlash. The 19 degree heating target was a specific measure contained in a voluntary energy saving campaign launched by the government in August. But legal experts point...

03.10.2022 – The consumer price index (CPI) fell by 0.2% in September 2022 compared with the previous month, reaching 104.6 points (December 2020 = 100). Inflation was +3.3% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).The decrease of 0.2% compared with the previous month can be explained by several factors including falling prices for fuels, heating oil, hotels and supplementary accommodation. In...

Many mainstream economists believe that economic stability refers to an absence of excessive fluctuations in the overall economy. An economy with constant output growth and low and stable price inflation is likely to be regarded as stable, while an economy with frequent boom-bust cycles and variable price inflation would be seen as unstable. According to popular thinking a stable economic environment with stable price inflation and stable output growth acts as a...

Bank of England responds to gilts, but is it guilty of nothing more than being the first of many more to come? Talking it over with Steve Van Metre, we find that markets aren't pricing this as an England thing, nor a Bank of England thing, rather just the beginning of a global deflationary wave all central banks will have to deal with before too long. Eurodollar University Conversations, featuring Steven Van Metre. Twitter: https://twitter.com/JeffSnider_AIP...