SNB & CHF

© Steve Woods | Dreamstime.com 24 Heures. Last week, the regional newspaper 24 Heures, uncovered a fraudulent scheme allegedly involving two workers from the union Unia, which may have cost Vaud’s social security system as much as CHF 3 million. The alleged fraud is centred on the construction industry, where bosses of small businesses along with two staff from the union Unia managed to deceive the canton’s unemployment...

The Los Angeles Times today asked the question only the mainstream would ask. “Wages are growing and surveys show consumer confidence is high. So why are motor vehicle sales taking a hit?” Indeed, the results reported earlier by the auto sector were the kind of sobering figures that might make any optimist wonder. Across the board, and for the fourth straight month, there was almost all negatives, some still large....

  An Old Seasonal Truism Most people are probably aware of the saying “sell in May and go away”. This popular seasonal Wall Street truism implies that the market’s performance is far worse in the six summer months than in the six winter months. Numerous studies have been undertaken particularly with respect to US stock markets, which confirm the  relative weakness of the stock market in the summer months. What is the...

On board with Mark O'Byrne #152. GoPro Hero Hd

Rear facing on board footage with Mark O'Byrne at round five of the Master Superbike series. M.Donegan Racing and Mobil-I BMW S1000RR GoPro Hero HD @ Maximum!

Swiss Franc EUR/CHF - Euro Swiss Franc, May 09(see more posts on EUR/CHF, ) - Click to enlarge FX Rates The election of Macron as French President has set off a bout of position adjustment that has seen the euro push back into the $1.0850-$1.0950 range that had confined activity for the two weeks between the first and second rounds of the French presidential election. The euro fell a cent yesterday after...

See the introduction and the video for the terms gold basis, co-basis, backwardation and contango. Frexit Threat Macronized The dollar moved strongly, and is now over 25mg gold and 1.9g silver. This was a holiday-shortened week, due to the Early May bank holiday in the UK. The big news as we write this, Macron beat Le Pen in the French election. We suppose this means markets can continue to do what they wanted to do...

UBS shareholders overwhelmingly approved executive bonuses at the bank’s annual general meeting on Thursday. Why such a difference from the Credit Suisse shareholder rebellion seen just one week ago? Both Swiss banks have experienced hard times since their heyday before the financial crash. The shares of both banks have been trading in similar territory (CHF15-17) in recent months from 2007 highs of CHF89 for Credit...

The economic reports since the last economic update were generally less than expected and disappointing. The weak growth of the last few years had been supported by autos and housing while energy has been a wildcard. When oil prices fell, starting in mid-2014 and bottoming in early 2016, economic growth suffered as the shale industry retrenched. I said during that entire time that while the problems in the energy...