SNB & CHF

Demonstrators in Lausanne on February 9: Vaud is the third-largest (by population) of Switzerland’s 26 cantons. © Keystone/ Valentin Flauraud Around 3,500 public sector workers in the western Swiss canton of Vaud took part in a strike on Thursday. They are calling for wage indexation to keep up with inflation and rising living costs. Thursday’s demonstration in Lausanne is the fourth in two months by public sector workers. It comes after an even bigger gathering in...

What is strategy, and is it useful for business? Business schools want you think it is the critical factor in competitive success or failure. They teach structured markets, divided up by market share, with boundaries and external and internal forces to be assessed and countered. “Where to play and how to win.” They see strategy through their lens of financialization and utilize fictitious economic calculations like discounted future cash flows and market...

I truly enjoyed the conversation with Hrvoje Morić. I hope you will enjoy it 2. Happy Weekend! In liberty, Claudio Claudio Grass, Hünenberg See, Switzerland This work is licensed under a Creative Commons Attribution 4.0 International License. Therefore please feel free to share and you can subscribe for my articles by clicking here [embedded content]...

(I am on a business trip and did not intend to post any analysis today. However, there have been a number of unexpected developments that warrant some commentary. Thanks for bearing with me.) Japanese press reports that the BOJ Deputy Governor Amamiya turned down the opportunity to become the next BOJ governor. Instead, next week, former BOJ board member Kazuo Ueda will be nominated. The market reacted dramatically, taking the yen sharply higher and sold JGBS....

Won’t go to waste: but plastic in Switzerland is not always so well recycled. Keystone / Urs Flueeler The Federal Audit Office says there needs to be more transparency around the various fees and taxes which fund Switzerland’s recycling system. The auditors wrote on Wednesday that CHF176 million ($192 million) in recycling taxes and fees were collected in 2019: these included state-organised prepaid disposal fees on glass and batteries, and voluntary, private...

In 1983 a total of 6,840 gold bars were stolen from a high security vault in Heathrow in what is still considered to be ‘the crime of the century’. 40 years on and the gold heist is still the biggest single-theft of gold in history. What’s incredible is that the perpetrators never even expected to steal any gold. They were instead expecting to find around £3 million in cash. After failing to get into the targeted vault the armed robbers discovered three tons of gold...

Bernie Sanders and other politicians have made socialism attractive to voters, especially young ones, because it promises to eliminate the injustices of capitalism. As to what socialism and capitalism mean, no one seems to care much, other than that by socialism, they mean a kinder, caring society without income extremes, whereas capitalism is the preferred system of ruthless exploiters who amass obscene fortunes while real workers struggle to survive. In recent...

Interest rate Thunderdome. What appears to be the short end versus the long end, or the longer-term rates against the Fed, the continued surge in layoffs once again shows it is actually the Fed vs. the Fed. Two Jays enter, one Jay leaves. And we know which one. Eurodollar University's Money & Macro Analysis Twitter: https://twitter.com/JeffSnider_AIP https://www.eurodollar.university https://www.marketsinsiderpro.com https://www.PortfolioShield.net RealClearMarkets Essays:...

Overview: The capital markets have shrugged off the more than 1% loss of the Nasdaq and S&P 500 yesterday and have jumped back into risk assets. The stocks and bonds have been bought and the dollar sold. Chinese and Hong Kong shares gained more than 1% today. Japan was mixed and Taiwan and South Korean equites saw minor losses. Europe's Stoxx 600 is up over 1%. Nasdaq futures are up nearly 1.2% while the S&P 500 is lagging slightly. European bonds yields are...

Between 2019 and 2022, the fortune of India’s Gautam Adani swelled from $9 billion to $127 billion. As the value of his seven publicly traded companies—providers of everything from natural gas to digital services—soared, he was briefly the world’s second-richest person. His meteoric rise caught the attention of Hindenburg Research, a small US investment firm devoted to profiting by exposing corporate malfeasance. Viewing with suspicion the several-hundred-percent...