SNB & CHF

Zurich, June 24 2020 – UBS is investing in Rockefeller Asset Management’s Global Environmental, Social and Governance (ESG) Equity fund, broadening the sustainable investment opportunities that it offers to clients. UBS, the world’s largest global wealth manager, has allocated directly to the fund through its 100% sustainable multi-asset portfolio, which surpassed USD 10 billion in size earlier this year. The fund is also available to UBS Global Wealth Management...

Risk-off sentiment has picked up from reports that the US will impose new tariffs against the EU; there’s also been a messy set of headlines regarding the virus contagion outlook in the US The IMF will release updated global growth forecasts today; the dollar is benefiting from risk-off sentiment; another round of fiscal stimulus in the US is in the works Brazil announced a slew of new easing measures to improve liquidity conditions in local credit markets; Mexico...

Despite massive government and central bank stimuli, the global economy is seeing a concerning rise in defaults and delinquencies. The main central banks’ balance sheets (those of the Federal Reserve, Bank of Japan, European Central Bank, Bank of England, and People’s Bank Of China) have soared to a combined $20 trillion, while the fiscal easing announcements in the major economies exceed 7 percent of the world’s GDP according to Fitch Ratings. This is the biggest...

Anyone who advocates the ideas of the Austrian school of economics, whether broadly and publicly or even in the context of private discussions with friends and acquaintances, will almost immediately find themselves grappling with the tricky question of how to distill the core essence of what Austrian economics actually is, and how to convey those truly definitive characteristics as briefly and simply as possible. Given the nearly 150 years during which Austrian...

Swiss Franc The Euro has fallen by 0.07% to 1.0672 EUR/CHF and USD/CHF, June 24(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The rally in risk assets in North America yesterday is failing to carry over into today’s activity. Asia Pacific equities were mixed. Korea and Indonesia led the advances with more than 1% gain. China and Taiwan also gained. Japan and Hong Kong. Europe’s Dow Jone’s Stoxx 600 is giving...

By Dara O’Sullivan, Derrick Leonard, and Ilan Solot There were minimal changes to the status quo as the week commences. Bangladesh has announced revised trading hours on the local exchanges. No change of status in Nigeria and Kenya as they both continue to face limited liquidity. Please see trading comments below. Bangladesh: Effective June 18, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) revised their trading hours until further notice. The...

The last shred of power the elites hold is the belief of the masses that the elites are still in control. I understand the natural desire to believe somebody’s in charge: whether it’s the Deep State, the Chinese Communist Party, the Kremlin or Agenda 21 globalists, we’re primed to believe somebody somewhere is controlling events or pursuing agendas that drive global responses to events. I submit whatever control we discern is illusory, as the dynamics unleashed by...

A Failure to Integrate Values The only region in the world that has proactively tried to incorporate western culture in its societies is East Asia — Singapore, Japan, Hong Kong, South Korea, and Taiwan. China, which was a grotesquely oppressed, poor, Third World country not too far in the past, notwithstanding its many struggles today, has furiously tried to copy the West. Famous Greek philosophers: their thoughts are a cornerstone of Western culture. [PT]Western...

“Our country continues to face a difficult and challenging time….People have lost loved ones. Many millions have lost their jobs. There is great uncertainty about the future. At the Federal Reserve, we are strongly committed to using our tools to do whatever we can, for as long as it takes…to ensure that the recovery will be as strong as possible, and to limit lasting damage to the economy” –Jerome Powell, Chairman of the Federal Reserve, June 10, 2020 America is...

Swiss Franc The Euro has risen by 0.22% to 1.069 EUR/CHF and USD/CHF, June 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: After early indecision, investors ramped the demand for risk assets, encouraged perhaps by indications that the Trump Administration going to support at least another trillion-stimulus package. The NASDAQ rallied to new record highs, and the dollar got thumped across the board. However,...