SNB & CHF

What is it about paternalists that prevents them from minding their own business? They are obsessed with minding everyone else’s business and, even worse, using the power of government to force people to live their lives the way paternalists want them to live them. Look at the war on drugs. For our entire lives, paternalists have used the force of government, at the both the federal and state level, to punish people for putting substances in their mouths that...

The Fed has created trillions out of thin air to boost the speculative wealth of Wall Street, but it can’t print experienced workers willing to work for low wages. The Federal Reserve is reassuring us daily that inflation is temporary, but allow me to assure you that wage inflation is just getting started and will accelerate rapidly. As I noted yesterday, the Fed can create currency out of thin and funnel it to financiers, but the Fed can’t create experienced,...

Switzerland and the EU have been working at failing to agree on a new agreement on Switzerland’s relationship with the EU for sometime now. One point of negotiating leverage used by Switzerland is that Swiss voters would reject the deal proposed by the EU in a referendum. However, a recent poll suggests that might not be true. © Alexander Filon | Dreamstime.com A recent poll run by gfs.bern found that 64% of a sample of voters were either supportive (15%) or fairly...

Vaccine passports have been implemented, or are being developed, in a number of countries around the world. In February 2021, Israel introduced its “Green Pass,” which becomes “effective the week after receiving the second dose” of the vaccine and expires after six months. It was followed by China, which launched its digital “International Travel Health Certificate” in March. Subsequently, in April, Denmark implemented its “Coronapas” and Estonia introduced its...

Swiss Franc The Euro has risen by 0.03% to 1.0944 EUR/CHF and USD/CHF, May 14(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The surge in consumer prices reported on Wednesday saw rates jump and the dollar push higher. Stronger than expected producer prices yesterday, and news of wage increases (average 10%) at Mcdonalds and for 75,000 people Amazon wants to hire, saw rates ease and the dollar’s upside...

Those with teenagers wishing for the greater travel freedom likely to come with proof of vaccination may have cause for hope. On 7 May 2021, Pfizer submitted an authorisation application to Swissmedic, Switzerland’s drug approval agency, for use of its vaccine against Covid-19 on those aged 12 to 15 years old. © Jovanmandic | Dreamstime.com - Click to enlarge The application asks for the authorisation of the vaccine, which is currently being used on adults in...

The Treasury department has issued its spending and revenue report for April 2021, and it’s clear the US government is headed toward another record-breaking year for deficits. According to the report, the US federal government collected $439.2 billion in revenue during April 2021, which was a sizable improvement over April 2020 and over March 2021. Indeed, April 2021’s revenue total was the largest since July of last year when the federal government collected 563.5...

Marc Chandler from Bannockburn Global Forex shares his thoughts on the response in currencies the USD and the stock markets following the CPI release this week. Bonds are also a standout for him. Marc Chandler has been covering the global capital markets for more than 30 years, including stints as the global head of currency strategy for both HSBC and Brown Brothers Harriman. Chandler recently joined Bannockburn Global Forex as a Managing Director and Chief Market Strategist in 2018. A...

Swiss Franc The Euro has fallen by 0.15% to 1.0957 EUR/CHF and USD/CHF, May 13(see more posts on Business, EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: It is as if the bond vigilantes were pushed too far. US inflation is accelerating more than expected, and it cannot all be attributed to the base effect, and the Federal Reserve, to many investors, is tone-deaf. With powerful fiscal stimulus, nominal growth above 10%, and the...

Let me state from the outset, you won’t get a discount if you mention to your travel agent that you read this article when you book your trip to Switzerland this summer. But it will be nice to have you back; Switzerland – in line with much of Europe – is planning to open up to overseas visitors in a few short weeks. And since we haven’t seen you in a while, I expect you’ll be welcomed with open arms! I can assure you, the place hasn’t changed much. Of course, we have...