SNB & CHF

 As I so often write, we still talk about 2008 because we aren’t yet done with 2008. It doesn’t seem possible to be stuck in a time warp of such immense proportions, but such are the mistakes of the last decade carrying with them just these kinds of enormous costs. It has been this way from the beginning, even before the beginning as if that was possible. The Great Financial Crisis has no official start date, but we...

India Reverts to its Irrational, Tribal Normal (Part XIII) Over the three years in which Narendra Modi has been in power, his support base has continued to increase. Indian institutions — including the courts and the media — now toe his line. The President, otherwise a ceremonial rubber-stamp post, but the last obstacle keeping Modi from implementing a police state, comes up for re-election by a vote of the legislative...

Marc Chandler opposes conventional understanding of international economics by suggesting the challenge modern economies face is not scarcity, but surplus.

Marc Chandler opposes conventional understanding of international economics by suggesting the challenge modern economies face is not scarcity, but surplus.

Swiss Franc EUR/CHF - Euro Swiss Franc, May 24(see more posts on EUR/CHF, ) - Click to enlarge GBP/CHF Labour gains ground The Conservatives were in a very strong position following the election announcement. A snap election historically causes the currency in question to weaken, but on this occasion the opposite occurred. A Torie victory is deemed to be positive for the UK economy. Investor confidence grew and...

© Lisavan | Dreamstime.com A recent report classifies 570,000 people in Switzerland as poor. This number represents 7% of the population, and relates to 2015. In 2014, the same percentage was 6.6%. The report, which looks only at income, defines as poor a single person with income less than CHF 2,239 per month or a family of four with income below CHF 3,984 per month. Data from the survey of 7,500 households, around...

Summary: The dollar’s downside momentum faded today, but it has not shown that it has legs. Watch 96.45 in the DXY and $1.3055 in sterling. The US 2-year note yield is low, given expectations for overnight money. The US premium needs to widen. The US dollar’s downside momentum faded today. While one should not read much into it, it could be an early sign that the market has discounted the recent news stream,...

The Basel-based firm employs 120,000 people worldwide. The Swiss pharmaceutical giant Novartis has announced that it plans to cut 500 jobs at its Basel headquarters in Switzerland over the next 18 months. It says it will also create 350 new posts, mostly in its biotech business. Novartis said in a statement on Thursday that it planned to cut up to 500 jobs in the Basel area or to relocate workers to other sites over the...

Tech is the umbrella word for all things fashionable to invest in right now. Take the recent flotation of Snap Inc. (parent company of teen and narcissists’ favourite app SnapChat), everyone wanted in on the $20 billion flotation. Snap is likely a sign of a tech bubble that will cost a lot of savers and investors huge amounts of money … again. Before putting your savings into the likes of SnapInc we think there are some...

The rebound in commodity prices is not difficult to understand, perhaps even sympathize with. With everything so depressed early last year, if it turned out to be no big deal in the end then there was a killing to be made. That’s what markets are supposed to do, entice those with liquidity to buy when there is blood in the streets. And if those speculators turn out to be wrong, then we are all much the wiser for their...