SNB & CHF

Yossi Kaplan and Charles Hugh Smith on the Virus and the New World Order http://financialrepressionauthority.com/2020/03/05/the-roundtable-insight-yossi-kaplan-and-charles-hugh-smith-on-the-virus-and-the-new-world-order/

◆ Gold surges 3% and has largest daily gain since June 2016 as the Fed delivers a surprise emergency rate cut, the first since 2008 ◆ Gold has gained over 10% in dollars and by more in other currencies so far in 2020 and along with U.S. Treasuries, it is a one of the best performing assets in 2020 as stock markets globally fall sharply (see 2020 Asset Performance table) ◆ G7 officials say there will be “appropriate” policy moves in a desperate attempt to prevent the...

Take your pick, apparently. On the one hand, IHS Markit confirmed its flash estimate for the US economy during February. Late last month the group had reported a sobering guess for current conditions. According to its surveys of both manufacturers and service sector companies, the system stumbled badly last month, the composite PMI tumbling to 49.6 from 53.3 in January. Today’s update to that flash estimate with more survey responses in hand validated the 49.6....

An old red barn in London, Ontario was recently given heritage protection by City Council. Two days later, after dark, the barn was demolished. Owner John McLeod, citing legal advice, wouldn’t comment when asked if he’d demolished the barn but said, “I’m delighted that it’s down.” McLeod had fought the heritage designation for the Byron barn, calling the push for it at city hall “complete stupidity.” City Hall responded to the demolition by issuing a stop work...

Swiss Franc The Euro has fallen by 0.04% to 1.0648 EUR/CHF and USD/CHF, March 5(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The 4.2% rally in the S&P 500 yesterday helped lift Asia Pacific markets earlier today, and the five basis point backing up of the US 10-year yield pushed regional yields higher. However, the coattails proved short, and Europe’s Dow Jones Stoxx 600 is snapping a three-day advance...

Data published this week showed China’s factory activity contracted at its sharpest pace on record in February (Keystone / Xu Changliang) China’s sharp contraction in economic activity over the past month due to the coronavirus epidemic is sending shockwaves across the globe. Switzerland is one of the top ten countries exposed to Chinese supply disruptions, a United Nations report reveals. Over the past month China, which has a central role in global supply chains,...

Taking another look at what I wrote about repo and the latest developments yesterday, it may be worthwhile to spend some additional time on the “why” as it pertains to so much determined official blindness, an unshakeable devotion to otherwise easily explained lunar events. The short version: monetary authorities as well as the “experts” describe almost perfectly risk averse behavior among the central money dealing system in outbreaks like September’s repo – but...

On December 12, Christine Lagarde introduced her goals and vision in her first rate-setting meeting as the new president of the European Central Bank (ECB). On the actual policy front, there were no surprises. She remained committed to the path set by her predecessor, Mario Draghi, and kept the current monetary stimulus unchanged. The central bank kept its deposit rate at the present record-low –0.5 percent and pledged to continue its €20 billion bond purchases every...

The Johns Hopkins University Coronavirus Global Cases Monitor shows that the mortality rate of the epidemic is very low. At the writing of this article,1 there have been 92,818 cases, 3,195 deaths, and 48,201 recoveries. It is normal for the media to focus on the first two figures, but I think that it is important to remember the last one. The recovered figure is more than ten times the deceased one. This should not make the reader ignore the epidemic, but it is...

Super Tuesday has come and gone. Bloomberg has suspended his campaign after an extremely poor showing, and Warren is expected to follow suit soon. Here is our updated take on the likely Democratic candidate. RECENT DEVELOPMENTS Biden exceeded expectations on Super Tuesday. He won Alabama, Arkansas, Massachusetts, Minnesota, North Carolina, Oklahoma, Tennessee, Texas, and Virginia and leads in Maine. Sander won Colorado, Utah, and Vermont and leads in California. As...