SNB & CHF

Overview: Equities, bonds, and the dollar begin the new week on a firm note.  Japanese, Chinese, Australian, and New Zealand equities advanced in the Asia Pacific region.  Europe's Stoxx 600 is snapping a three-day decline, and US futures are 0.25%-0.35% higher.  The US 10-year yield is a little softer at 1.48%. European benchmark yields are mostly 1-2 bp lower, and near 0.71%, the UK Gilt's yield is at a three-month low.  The dollar is rising against all the major...

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The headlines last Friday were ominous: Inflation Hits Highest Level in Nearly 40 Years Inflation is Painfully High… Groceries and Christmas Presents Are Going To Cost More Inflation is Soaring.. America’s Inflation Burst This morning on Face The Nation, Mohamed El-Erian, former Harvard endowment manager, former bond king apprentice, economist and the man who seems to have a permanent presence on CNBC, had this to say: The characterization of inflation as transitory...

When the market goes bidless, it’s too late to preserve capital, never mind all those life-changing gains. Everyone with some gray in their ponytails knows the stock market has ticked every box for a bubble top, so everybody get in crash positions: Let’s run through the requirements for a bubble top: 1. Retail investors (i.e. dumb money) are all in and buying the dip with absolute confidence. As the gray-ponytail traders know, there are many moving parts to the...

Es kam zum Ende der Arbeitswoche zu einem weiteren Kursabfall. Dieser fiel zwar bedeutend moderater aus als der große Einbruch der vorherigen Woche, doch er führte den BTC wieder unter 50.000 US-Dollar. Einige Experten warnen nun vor einem intensiven Cashout noch in diesem Jahr. Bitcoin News: Experten warnen vor großem Einbruch des Bitcoin Im Wochenvergleich steht Bitcoin trotz der neuerlichen Korrektur besser da. Dies liegt aber weniger an einer positiven...

Wer als Schweizer oder Schweizerin im Jahr 2011 im Euroraum Sommerferien machte, merkte plötzlich: Jeden Tag wird alles rasant billiger. Der Euro, der Anfang Juli noch 1,23 Franken gekostet hatte, stürzte bis zum 10. August auf 1,0070 Franken ab. Es waren dramatische Tage an den Märkten und eine Folge der sich ausweitenden Eurokrise – was die Schweizerische Nationalbank im September 2011 dazu veranlasste, die Kursuntergrenze von 1,20 Franken zum Euro einzuführen. Die...

The Swiss National Bank (SNB) is doing its best to keep up with the fast-evolving world of cryptocurrencies and decentralised finance. Switzerland’s central bank has again showcased the capabilities of its fledgling digital franc – an example of a central bank digital currency (CBDC). The SNB has revealed that last month it clubbed together with the Bank of France and mainstream financial companies to pull off a cross-border trade using CBDCs on a distributed ledger...

For many, income inequality is a disease ravaging the fabric of capitalist societies. Therefore, curing this ailment, according to progressives, necessitates an injection of welfare benefits and higher taxes on the wealthy. Guided by a zero-sum outlook, critics believe that the success of the affluent is gained at the expense of the poor. To remind voters that he takes income inequality seriously, during his presidential campaign, Joe Biden expressed concern that the...

Eurodollars are time deposits denominated in U.S. dollars at banks outside the United States, and thus are not under the jurisdiction of the Federal Reserve. Consequently, such deposits are subject to much less regulation than similar deposits within the U.S. The term was originally coined for U.S. dollars in European banks, but it expanded over the years to its present definition. A U.S. dollar-denominated deposit in Tokyo or Beijing would be likewise deemed a Eurodollar deposit (sometimes...

No matter how you feel about the Pentagon and the military-industrial complex, you can’t help but be impressed at how they are able to successfully plunder and loot American taxpayers, no matter how much needless death, suffering, and destruction they wreak on people around the world. Think about it: They just exited Afghanistan after their 20-year failed war against the Taliban, a war that left thousands of American soldiers and countless Afghans dead and the...