SNB & CHF

Swiss Franc The Euro has risen by 0.42% to 1.0791 EUR/CHF and USD/CHF, June 3(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Two recent trends continue. Equities are moving higher, and the dollar remains heavy. Equity markets in the Asia Pacific region rose at least one percent, and South Korea, Singapore, and Malaysia rallied 2-3%. Europe’s Dow Jones Stoxx 600 is up more than 1% for the third consecutive...

As the old models break down, opportunities for new models will arise. Unstable, unsustainable systems can lull observers into a comfy complacency as instability increases beneath a thin veneer of apparent stability. That’s the systemic story of the past 20 years: all the extremes that were needed to maintain the veneer of stability have increased the instability building beneath the complacent confidence. But sadly for the status quo, all bubbles pop, all...

© Mengtianhan | Dreamstime.com 2.1% of the 100,000 hospital staff working across 20 Swiss hospitals were infected with SARS-COV-2, according to a report published in the SonntagsZeitung. The worst affected hospitals were in Geneva (6.26%), Neuchâtel (3.18%), Valais (2.86%), Lausanne (2.75%), Fribourg (2.74%) and Jura (2.11%). Rates of infection in hospitals in German-speaking Switzerland were lower. Thurgau’s hospital recorded the lowest rate (0.36%). Higher...

The dollar remains under pressure; there is a debate as to the root causes of recent dollar weakness May auto sales will be the only US data release today; protests in the US are further denting Trump’s re-elections prospects, at least according to betting odds The G7 meeting planned at Camp David this month was postponed after German Chancellor Merkel declined his invitation Press reports suggest a possible compromise in the UK-EU trade negotiations; oil futures...

  The New In Gold We Trust Report is Here! The In Gold We Trust 2020 report by our good friends Ronald Stoeferle and Mark Valek was released last week. It is the biggest and most comprehensive gold research report in the world. As always it contains a wealth of new material, as well as the traditional wide-ranging collection of charts and data that makes it such a valuable reference work for everything of interest to gold investors or indeed for anyone interested in...

The Swiss town of Davos, awaiting the arrival of the 2020 WEF. (Keystone / Gian Ehrenzeller) The World Economic Forum has vowed to hold its annual meeting in Davos in January, testing the willingness of a globetrotting elite to resume the high-powered networking that has been frozen by the coronavirus pandemic. Such events have been cancelled around the world since the pandemic began, with many chief executives expressing doubt that they will return to the conference...

Swiss Franc The Euro has risen by 0.60% to 1.076 EUR/CHF and USD/CHF, June 2(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Liquidity trumps everything else. US equities shrugged off the national guard being called into action in nearly a third of US states, and the S&P 500 closed yesterday at nearly three-month highs. Asia Pacific markets followed suit.  Most markets in the region rose by more than 1%. The...

FAS, 31 May 2020. PDF. Monetary deficit financing is the norm—after all, central banks distribute their profits. Monetary financing occurs in the context of regular open market operations and QE and, hyper charged, with helicopter drops. The question is not whether monetary policy should finance the government, but why it does so, and to what extent. Fiscal and monetary policy are inherently connected; what constitutes monetary policy is defined by objectives....

The investment climate in June will be shaped by forces that emerged in May. Many countries began relaxing lockdowns and various activity-based alternative data, like traffic pattern, Open Table Reservations showed improvement on the margins. Sentiment surveys, while mostly still depressed, were better than April readings. The long slog back has begun. There was also optimism over several different vaccines that had been initiated or soon will begin human tests. The...

Our ruling elites, devoid of leadership, are little more than the scum of self-interested, greedy grifters who rose to the top of America’s foul-smelling stew of corruption. The Founding Fathers were wary of institutional threats to liberty and the citizenry’s sovereignty, which included centralized concentrations of power (monarchy, central banks, federal agencies, etc.) and the tyranny of corruption unleashed by small-minded, self-interested, greedy grifters who...