SNB & CHF

If we are going to see negative nominal Treasury rates, what would guide yields toward such a plunge? It seems like a recession is the ticket, the only way would have to be a major economic downturn. Since we’ve already experienced one in 2020, a big one no less, and are already on our way back up to recovery (some say), then have we seen the lows in rates? Not for nothing, every couple years when we do those (record low yields) that’s what “they” always say and yet...

In August of 1963, Human Events published an article written by Howard Buffett entitled “’Thou Shalt Not Steal!’ But Government Confiscation Has Been Legalized.”1 Buffett began it with satire, suggesting that the Seventh Commandment (eighth in some religions) had become obsolete. Indeed, throughout history, he said, the commandment had “always been a thorn in the side of many people, both great and small.” The strong and the powerful saw it as an “unwarranted...

Swiss Franc The Euro has risen by 0.09% to 1.0765 EUR/CHF and USD/CHF, September 11(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Yesterday’s roller-coaster price action has not had much impact on today’s activity. The slide in US equities after early gains failed to prevent Japanese, Chinese, and Hong Kong equities from advancing, though other markets in the region were not as resilient. It is the first...

Macroeconomy A surge in new covid-19 cases in a number of countries has interrupted progress towards normality, yet the effects of the virus are becoming more manageable and positive world H2 growth is achievable. Prospects for the US economy hinge on the ability of Washington to agree a new fiscal support package. While we have raised out 2020 GDP projection for the US we remain prudent. We expect the Fed to provide more stimulus via increased asset purchases,...

Die aggregierten Daten über den Schweizer Versicherungsmarkt zeigen eine deutliche Steigerung der Ergebnisse 2019. Diese fallen pro Teilbranchen zwar unterschiedlich aus, sind aber hauptsächlich auf die Ergebnisse am Kapitalmarkt zurückzuführen. Dies und weitere Statistiken zum Versicherungsmarkt zeigt der heute veröffentlichte Versicherungsmarktbericht der Eidgenössischen Finanzmarktaufsicht FINMA. Die schweizerischen Versicherungsunternehmen erzielten im...

Bricks and mortar is being replaced by digital code in the banking sector. © Keystone / Christian Beutler Swiss lender Credit Suisse is set to launch an overhaul of its digital banking offering, as it uses the coronavirus crisis as a springboard to accelerate the push from bricks-and-mortar branches to online services. Last month the bank confirmed plans to close a quarter of its 146 domestic branches by the end of the year. This would lead to SFr100m ($108m) of...

The dollar rebound continues; odds of a near-term stimulus bill in the US are falling; ahead of inflation readings later this week, the US holds a 10-year auction today Bank of Canada is expected to keep policy steady; Mexico reports August CPI; Brazil reports August IPCA inflation The Brexit fallout widens; UK will have trouble striking new trade deals if it can’t be counted on to honor its past agreements; no surprise then that sterling remains under pressure...

In an August editorial, the New York Times called for an investigation into the attack on Russian dissident Aleksei Navalny, who was recently transported to Germany in a coma after apparently being poisoned. No one knows who did the poisoning, but the Times has strong suspicions: A hit on so prominent a figure, with the inevitable eruption of global and domestic fury, would presumably require sanction from the highest echelons of power….Mr. Putin has certainly shown...

Swiss Franc The Euro has risen by 0.07% to 1.0774 EUR/CHF and USD/CHF, September 10(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview:  A strong recovery in US stocks, a softer dollar, and higher gold and oil prices may signal the end of the brief though dramatic correction, but the market is in a bit of a holding pattern ahead of the ECB meeting.  Most of the major equity markets in the Asia Pacific region...

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