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SNB & CHF

Rückläufige US-Erdölvorräte lassen Ölpreise steigen

Die Vereinigten Staaten weisen sinkende Ölreserven auf. Dies führt zu einem Druck auf die Preise. Trotz eines Anstiegs der Rohölvorräte im jüngsten EIA-Bericht sind die kommerziellen Erdölvorräte in den USA in den meisten Wochen der letzten anderthalb Jahre zurückgegangen und liegen unter dem saisonalen Durchschnitt der letzten fünf Jahre und sogar unter dem Fünfjahresdurchschnitt vor der Pandemie. Der kontinuierliche Rückgang der US-amerikanischen Erdölvorräte im...

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Russland könnte Krypto-Mining und goldgedeckte Stablecoins zulassen

Russland könnte das Mining von Kryptowährungen und durch Gold gedeckte Stablecoins unter staatlicher Kontrolle legalisieren, so ein hochrangiges Mitglied des russischen Parlaments. Die Erklärung erfolgte, nachdem die Bank von Russland ein weitreichendes Verbot der Verwendung von Kryptowährungen, ihres Handels und Minings vorgeschlagen hatte. Der freie Umlauf von Kryptowährungen dürfe nicht erlaubt werden, da sie Risiken für unqualifizierte Investoren mit sich...

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Swiss Trade Balance Year 2021: exports climb to one record level

We do not like Purchasing Power or Real Effective Exchange Rate (REER) as measurement for currencies. For us, the trade balance decides if a currency is overvalued. Only the trade balance can express productivity gains, while the REER assumes constant productivity in comparison to trade partners. Who has read Michael Pettis, knows that a rising trade surplus may also be caused by a higher savings rate while the trade partners decided to spend more. This is partially...

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Inflation Winners and Losers

The clear winners in inflation are those who require little from global supply chains, the frugal, and those who own their own labor, skills and enterprises. As the case for systemic inflation builds, the question arises: who wins and who loses in an up-cycle of inflation? The general view is that inflation is bad for almost everyone, but this ignores the big winners in an inflationary cycle. As I’ve explained here and in my new book Global Crisis, National Renewal,...

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Overwhelming majority of ICU patients in Switzerland unvaccinated, show data

© Sudok1 | Dreamstime.com On 25 January 2022, a study published by Zurich University Hospital found that 97% of Covid-19 ICU patients since the start of Switzerland’s Covid-19 vaccination campaign were unvaccinated. The study evaluated hospital data from 964 Covid-19 patients who were treated in intensive care units in Swiss hospitals in the nine months since the start of Switzerland’s vaccination campaign. Of these only 33 (3%) were vaccinated with one of the two...

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The Fed Has No Real Plan, and Will Likely Soon Chicken Out On Rate Hikes

The Fed’s Federal Open Market Committee (FOMC) released a new statement today purporting to outline the FOMC’s plans for the next several months. According to the committee’s press release: With inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate. The Committee decided to continue to reduce the monthly pace of its net asset purchases, bringing them to an end...

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FX Daily, January 26: Federal Reserve and Bank of Canada Meet as Risk Appetites Stabilize

Swiss Franc The Euro has risen by 0.04% to 1.0378 EUR/CHF and USD/CHF, January 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: After a slow and mixed start in Asia, where Australia and India are on holiday, equity markets have turned higher. Europe’s Stoxx 600 is up around 1.9% near midday in Europe, which if sustained would be the biggest gain of the year. US futures are snapping backing too, with the...

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Clamping down on tobacco advertising

Swiss voters will decide on February 13 on a wide ban on tobacco advertising, aimed at protecting young people. Switzerland, home to the world’s largest cigarette companies, has some of the weakest laws against tobacco advertising in Europe. About a quarter of the population are smokers, including around 100,000 aged 15 to 19. Under the people’s initiative, launched in 2018, only tobacco advertising directly targeting adults would be allowed. Behind the campaign is an alliance...

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