SNB & CHF

Can $300 billion, or $600 billion, or even $1 trillion continue to prop up an increasingly risk-riddled, fragile $330 trillion global bubble in overvalued assets? When is “Not-QE” QE? When Federal Reserve Chairperson Jerome Powell declares QE is not QE. We can constructively recall the story that Abraham Lincoln famously recounted in 1862: ‘If I should call a sheep’s tail a leg, how many legs would it have?’ ‘No, only four; for my calling the tail a leg would not...

David Stockman is the former budget director for President Ronald Reagan and author of “Peak Trump: The Undrainable Swamp and the Fantasy of MAGA” He believes that the market “can’t digest” all the money flooding into Wall Street and that the Federal Reserve responded with panic. Click Here to Watch the Full Interview David Stockman Prepare Now! Risk Of Contagion In Today’s Fragile Monetary World ◆ GOLDNOMICS PODCAST – Episode 13 – Lucky for some ! ◆ Why is nobody...

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Today, we want to say two things about negative interest rates. The first is really simple. Anyone who believes in a theory of interest that says “the savers demand interest to compensate for inflation” needs to ask if this explains negative interest in Switzerland, Europe, and other countries. If not, then we need a new theory (Keith just presented his theory at the Austrian Economics conference at King Juan Carlos University in Madrid—it is radically different)....

Recent protests in Hong Kong, along with the resulting fall out from international corporations questioned for their relationships with mainland China, has placed a renewed focus on the authoritarianism of the Chinese Communist Party. This has led to several articles identifying ways in which Western countries have learned from the CCP, including Europe’s growing embrace of web censorship and growing interest in the social credit system rolled out in 2018. Given that...

Swiss Franc The Euro has unchanged by 0.00% to 1.0935 EUR/CHF and USD/CHF, November 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Equities in Europe and the US look to extend their six-week rally, while the MSCI Asia Pacific Index gets back on the winning way after stumbling last week. Despite the escalation of the conflict in Hong Kong, the Hang Seng rose 1.35% to lead the region and recoup a chunk of last...

USD/CHF takes another U-turn from 100-day SMA, takes the bids above 38.2% Fibonacci retracement. 61.8% Fibonacci retracement acts as the key support while 200-day SMA holds the pair’s recovery confined. Following its bounce off 100-day SMA, USD/CHF rises past-38.2% Fibonacci retracement of August-October upside while taking the bids to 0.9900 by the press time ahead of the European session on Monday. Considering the pair’s recent recovery from near-term strong...

Auf die Frage, ob auch die Raiffeisen-Gruppe künftig Strafzinsen verrechnen will, erklärte der 58-jährige Lachappelle: “Ich kann mir das nicht vorstellen.” Wenn bei Sparkonti Negativzinsen eingeführt würden, sei die Gefahr gross, dass es zu einem “Bank Run” komme – also dass die Sparer ihr Geld von den Banken abziehen. Im Privatkundengeschäft erhebt unter anderem die UBS Negativzinsen für Sparer ab zwei Millionen Franken. Die Credit Suisse will per Anfang 2020...

Black Friday sales started emerging in Switzerland around five years ago. (© Keystone / Walter Bieri) The busiest shopping day of the year in the United States has become big business in Switzerland. But, some worry about the risks of consumers falling into debt and the pressure the Black Friday “holiday” puts on employees and the postal service. It wasn’t until five years ago that Black Friday, which falls on the Friday after American Thanksgiving (this year...

EM FX was mostly weaker last week due to doubts about a Phase One trade deal between the US and China. Those talks continue this week and while we expect a deal to be struck, there is likely to be a lot of last minute posturing that will likely keep markets volatile over the short-run. In the meantime, investors need to beware of idiosyncratic country risk within EM.   AMERICAS Chile reports Q3 GDP Tuesday, with growth expected at 3.3% y/y vs. 1.9% in Q2. Still, this...