SNB & CHF

The US-China trade talks look like they may very well continue through most of the second quarter, despite how much progress is being claimed. Meanwhile, the tariffs remain in effect, but the market’s sensitivity to developments has slackened since it was clear the Trump and Xi were not going to meet at the end of this month. Europe’s relationship with China will eclipse the US-China trade talks that resume with Mnuchin...

Last week, I ranted about the problem with our monetary system and trajectory: falling interest rates is Keynes’ evil genius plan to destroy civilization. This week, I continue the theme—if in a more measured tone—addressing the ideas predominant among the groups who are most likely to fight against Keynes’ destructionism. They are: the capitalists, the gold bugs, and the otherwise-free-marketers. I do not write this to...

Falling for a con is painful. The first reaction is to deny being conned, of course. The second is to blame skeptics for being correct in their skepticism. Here’s the fundamental “story” of the Mueller Investigation: elites don’t like “the little people” democratizing public narratives. The elites–who reckon their right to rule is self-evident–want to set the narrative and the context, because that’s the foundation of...

Swiss Franc The Euro has fallen by 0.12% at 1.1231 EUR/CHF and USD/CHF, March 25(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Global equities have soured after the US shares dropped the most since very early in the year before the weekend. Asia’s sell-off was led by the 3% decline in Nikkei, while Malaysia fared among the best, surrendering 1%.  Europe’s Dow...

Key developments in 2018 The current account surplus for 2018 was CHF 71 billion, CHF 26 billion more than in the previous year. Changes in primary income (labour and investment income) had the greatest impact: Whereas one year earlier an expenses surplus of CHF 9 billion was recorded, owing to exceptionally large expenses for direct investment receipts in 2017, in the year under review there was a receipts surplus...

The combination of the dovish hold by the Federal Reserve and the eurozone’s miserable flash Purchasing Managers Index casts a pall over the economic outlook. Japan’s flash PMI remained stuck at February’s 48.9, while core inflation unexpectedly eased. Three months after the European Central Bank stopped buying bonds, the German 10-year Bund yield fell below zero for the first time since 2016. Japan’s 10-year yield is...

The EU copyright reform has been surrounded by controversy, particularly over Article 13, which imposes obligations on internet service providers to obtain licences from rightholders to publish content. Tens of thousands of people across Europe, including in the Swiss city of Zurich, staged protests on Saturday against the European Union’s planned copyright reform billexternal link. More than 1,000 demonstrators marched...

With each passing day, we get closer to the shift in the tide that will sweep away this self-serving delusion of the ruling elites like a crumbling sand castle. Those living in revolutionary times are rarely aware of the tumult ahead: in 1766, a mere decade before the Declaration of Independence, virtually no one was calling for American independence. Indeed, in 1771, a mere 5 years before the rebellion was declared,...

Extrapolating The Recent Past Can Be Hazardous To Your Wealth “Those who cannot remember the past are condemned to repeat it,” remarked George Santayana over 100 years ago.  These words, as strung together in this sequence, certainly sound good.  But how to render them to actionable advice is less certain. Aren’t some facets of the past – like the floppy disk – not worth remembering?  And aren’t others – like a first...

(Copyright 2019 The Associated Press. All Rights Reserved.) The Swiss government has dropped the requirement that British nationals obtain a visa to enter Switzerland for a lengthy stay after Britain leaves the European Union. The British government has also extended the same privilege to Swiss nationals wishing to enter Britain after Brexit. The decision was made by the seven-member Federal Council on Friday and will...