SNB & CHF

David Gornoski hosts A Neighbor's Choice LIVE 4-6pm EST. Comment below or call in at 727 587 1040.

David Gornoski hosts A Neighbor's Choice LIVE 4-6pm EST. Comment below or call in at 727 587 1040.

The sell-off in stocks last week showed a certain nervousness about the sharp run-up in tech stocks and the role of big option bets. Indeed, prices in some instances had risen too fast. But this was a technical correction. With the US tech titans generating free cash flow, we do not believe we are facing a repeat of the bursting of the dot-com bubble in 2000.  And yet, it could be that Tesla’s ambition to raise USD5bn through occasional share sales will be seen as...

Valcambi says it is cooperating with NGOs in Peru (picture shows an area in the Madre de Dios province) to improve the working conditions of artisanal miners. Copyright 2018 The Associated Press. All Rights Reserved. The Swiss-based Valcambi refinery has rejected accusations about gold dealings with a controversial company in the United Arab Emirates. Chief executive Michael Mesaric said the claims by the non-governmental Swissaid organisation were unfounded. In a...

The ECB meets tomorrow and is widely expected to stand pat. Macro forecasts may be tweaked modestly and there are some risks of jawboning against the stronger euro, but it should otherwise be an uneventful meeting. Looking ahead, a lot of room remains for further ECB actions. We expect the ECB to increase QE at the December 10 meeting. However, another rate cut seems very unlikely, as does activation of OMT. POSSIBLE NEXT STEPS 1. Jawbone the euro weaker – POSSIBLE...

Interview with Theodore Deden Claudio Grass (CG): Looking at the damage inflicted upon supply chains, production facilities and global trade in particular, how quickly could these operations snap back even if all COVID-related restrictions were lifted tomorrow? Do you think we’ll eventually get back to business as usual, or have we now experienced a permanent shift to a “new normal”? Theodore Deden (TD): Forget about the legal COVID-related restrictions. If it were...

In the wake of the economically disastrous covid-19 shutdowns, the political class has desperately tried to save the failing euro system. On July 21 European leaders agreed on what they called a “historic” deal. It was nothing more than a multitrillion euro stimulus package. However, it is more probable that the “recovery fund” will delay any chance of a much-needed economic restructuring taking place. What it will do is waste scarce resources and capital while...

Swiss Franc The Euro has fallen by 0.03% to 1.0802 EUR/CHF and USD/CHF, September 9(see more posts on EUR/CHF, USD/CHF, ) Source: investing.com - Click to enlarge FX Rates Overview:  News that the AstraZeneca Phase 3 test had to be stopped to study the adverse reaction of one subject added to the uncertainty of investors amid one of the more significant reversals of risk appetites since March.  Equities continued to slump in the Asia Pacific region, with many...

Zurich, 09 September 2020 – Art Basel and UBS today published a 2020 mid-year survey ‘The Impact of COVID-19 on the Gallery Sector’ written by renowned cultural economist Dr. Clare McAndrew, Founder of Arts Economics. The survey findings present an analysis of how the COVID-19 pandemic has impacted 795 galleries operating in the Modern and contemporary gallery sector, representing 60 different markets across all levels of turnover, throughout the first six months of...

Mexico has recorded 634,023 coronavirus infections and 67,558 confirmed deaths, the world’s fourth highest death toll. Copyright 2020 The Associated Press. All Rights Reserved. People arriving in Switzerland from Belgium, Mexico and Luxembourg will no longer have to go into quarantine for ten days. The Federal Office of Public Health (FOPH) on Monday updated its list of countries deemed to have a high risk of coronavirus infection and removed Belgium, Mexico,...