SNB & CHF

Off-piste in Klosters, canton Graubünden. © Keystone / Christian Beutler The head of the Switzerland Tourism organisation reckons the decision to open ski resorts in the country this winter has – so far – proven to be a good one. “There were no big [virus] outbreaks, no ski resort became a hotspot, there was no major reputational damage for Switzerland – none of these fears materialised,” said Martin Nydegger in an interview with the CH-Media group on Tuesday....

Swiss Franc The Euro has risen by 0.38% to 1.0931 EUR/CHF and USD/CHF, February 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Rising rates continue to spur a rotation and retreat in stocks. Yesterday the NASDAQ sold-off by nearly 2.5% while the Dow Industrials eked out a minor gain. Equities are mostly higher in the Asia Pacific region while Japanese markets were on holiday. Hong Kong led the advancers, but...

Will cash machines soon be a thing of the past? © Keystone / Christian Beutler Cash has lost its appeal among the Swiss population as the coronavirus pandemic led more people to pay by bank card, mobile app or online, a recent survey has found. The survey by financial services website moneyland.ch found that for the first time, cash is no longer people’s preferred method of payment. “Moneyland.ch expects that cash will continue to lose in importance,” said...

The Producer Price Index (PPI) or officially named “Producer and Import Price Index” describes the changes in prices for producers and importers. For us it is interesting because it is used in the formula for the Real Effective Exchange Rate. When producers and importers profit on lower price changes when compared to other countries, then the Swiss Franc reduces its overvaluation. The Swiss PPI values of -6% in 2015 (see below), compared to -3% in Europe or -1% in...

[Chapter 3 of Rothbard’s newly edited and released Conceived in Liberty, vol. 5, The New Republic: 1784–1791.] Every depression generates a clamor among many groups for special privileges at the expense of the rest of society—and the American depression that struck in 1784–1785 was no exception. If excess imports were the culprit, then voluntary economizing could help matters, and the press was filled with silly fulminations against ladies wearing imported finery....

The threat of “nuclear proliferation” remains one of the great catch-all reasons—the other being “humanitarian” intervention—given for why the US regime and its allies ought to be given unlimited power to invade foreign states and impose sanctions at any given time. We saw this at work during the run-up to the 2003 invasion of Iraq. It was said that nuclear weapons were among the “weapons of mass destruction” being developed or harbored by Saddam Hussein’s regime....

With the UST yield curve currently undergoing its own market-based twist, it’s worth investigating a couple potential reasons for it. On the one hand, the long end, clear cut reflation: markets are not, as is commonly told right now, pricing 1979 Great Inflation #2, rather how the next few years may not be as bad (deflationary) as once thought a few months ago. On the other hand, over at the short end, yields are dropping toward zero again. This steepening isn’t...

Swiss Franc The Euro has risen by 0.15% to 1.0875 EUR/CHF and USD/CHF, February 22(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Higher interest rates, driven by inflation expectations, is forcing an adjustment to equity markets. The S&P 500 is poised to gap lower today following slides in the Asia Pacific region and Europe. Japanese and Taiwanese indices advanced by steep losses were seen in China, Hong...

Blaise Pascal was a brilliant mathematician, inventor of the calculating machine, and pioneer of probabilistic theory during the 17th century. His philosophical works were published posthumously under the title of Pensées. Although Pascal was not always devout, this final work laid out his defense of Christianity. For many years he surrounded himself with people dedicated to what he would later call diversion – which consisted of hunting, parties, and...

If you are interested in personal finance, you probably have come across the concept of emergency funds. An emergency fund is simply some money available directly that you can use for emergencies. Most people will advise you to get such an account. And they will insist heavily on this subject. It is an interesting subject since not everybody agrees on the importance of the emergency fund. Some people have an emergency fund that can cover one year of expenses. And...