SNB & CHF

© Marekusz | Dreamstime.com An updated forecast published this week by the Switzerland’s federal government is less negative than forecasters feared in the middle of the year. The new forecast expects Swiss GDP adjusted for sporting events to fall by 3.8% in 2020 and unemployment to average 3.2% across the year. The forecast in June 2020, predicted a 6.2% fall in GDP and average unemployment of 3.8%. After the relaxation of health policy measures, the Swiss economy...

Risk assets are coming off a tough week. The dollar was bid across the board except for the yen, which outperformed slightly. The only EM currencies to gain against the dollar were KRW and CLP. The major US equity indices somehow managed to eke out very modest gains but stock markets across Europe sank as the viral spread threatens to slam economic activity again. Yet we have seen time and time again that the safe haven bid for the dollar eventually gives way to...

Bob offers his commentary on the movies “The Hunt” and “The Purge”—both produced by Blumhouse Productions—and focuses on whether The Purge storyline offers a challenge to Rothbard’s depiction of anarcho-capitalism. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS. You Might Also Like The “Old” vs. the “New” Liberalism It is not...

Today’s Western institutions have long been deemed to be sacrosanct. As a matter of fact, though, nation-states are increasingly met with reservation or even outright resentment. Public trust in government is near historic lows, and pillars like the media or democracy are suffering from a loss of confidence. But one modern institution seems to be standing as strong as ever: central banks. Although their role has changed significantly over the course of a few decades...

Jason Burack of Wall St for Main St interviewed economic blogger and author Charles Hugh Smith from the popular blog Of Two Minds http://www.oftwominds.com/blog.html . Charles' blog was voted as the #7 best alternative financial blog websites by CNBC. Charles also has a new book out about entrepreneurship, jobs and careers called, Get a Job, Build a Real Career and Defy a Bewildering Economy. which is a top selling jobs book on Amazon. The book can be purchased here:...

The home to the European headquarters of the United Nations jumped ten spots up the ranking thanks to its fiscal attractiveness. Keystone / Salvatore Di Nolfi Canton Geneva has made the biggest jump in the annual Credit Suisse ranking of attractive business locations, moving up ten spots to sit just behind Zurich. According to the Credit Suisse location quality survey published on Tuesday, canton Zug, home to big multinationals like Glencore, took back its top spot...

Key Takeaways and Actionable Insights An understanding of the Austrian definition of capital is tremendously useful to all business owners and managers. What is capital? Austrian economics has a precise and distinctive definition — unlike business schools and most business publications, books, and columnists. Among those entities, the term capital tends to be used very imprecisely. You might see sentences like, “Entrepreneurs must ensure they have sufficient capital...

You spend a lifetime earning, saving, acquiring. But the old adage is true—you can’t take it with you. So, what do you do with your assets when you’re gone? How do you want them distributed? That’s where a good estate plan comes in. However, some estate plans are based on ideas that just aren’t true. Plans are made based on emotion rather than logic, and that’s where the best-laid estate plans can go wrong. Christopher D. Wright, JD is a CPA at Marks Paneth LLP. In...

David Gornoski hosts A Neighbor's Choice LIVE 4-6pm EST. Comment below or call in at 727 587 1040.

Die Eidgenössische Finanzmarktaufsicht FINMA empfiehlt den von der LIBOR-Ablösung betroffenen Beaufsichtigten, das neue Rückfallprotokoll der International Swaps and Derivatives Association (ISDA) frühestmöglich zu unterschreiben. Der Wegfall des LIBOR rückt näher. Der volumenmässig grösste Anteil der weiterhin an den LIBOR gebundenen Verträge sind Over-the-Counter-Derivate (OTC-Derivate). Die FINMA hat im Juni 2020 in einer Erhebung bei Schweizer Instituten hierzu...