SNB & CHF

The dollar is coming under pressure again; markets are finally waking up to the fact that a stimulus deal before 2021 is unlikely; 10-year Treasury yields have been trading in a narrow range for months The quiet US data week continues; Ireland broke from the pattern of how other European countries are tightening mobility rules; Hungary is expected to keep the base rate steady at 0.60%. Japan reported September convenience store sales; dovish RBA remains dovish;...

Join Marc Chandler and Sarwar Kashmeri as they explore the impact on the U.S. of the rise of China's bond market, the rapid appreciation of the Renminbi, and China's emergence from COVID-19 as it records a stunning 4.9% growth in the third quarter

Florentina Camartin is a retired catholic nun who took a vow of celibacy. When a young priest in Brigels, her eastern Swiss community, had to leave the church for love, she began her crusade for celibacy reform. She collected over 5,000 signatures and got the petition translated into Italian, so that she could send the bundle to Pope Francis in Rome. --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to...

Swiss Franc The Euro has risen by 0.11% to 1.0721 EUR/CHF and USD/CHF, October 20(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The capital markets lack a clear direction today. This is reflected in narrowly mixed equities, bonds, and currencies. The spreading contagion is giving rise to new economic concerns, among other things, and the UK-EU talks are struggling to resume, while Pelosi-Mnuchin talks in the...

We do not like Purchasing Power or Real Effective Exchange Rate (REER) as measurement for currencies. For us, the trade balance decides if a currency is overvalued. Only the trade balance can express productivity gains, while the REER assumes constant productivity in comparison to trade partners. Who has read Michael Pettis, knows that a rising trade surplus may also be caused by a higher savings rate while the trade partners decided to spend more. This is partially...

© Patrik Slezák | Dreamstime.com On 16 October 2020, Switzerland’s Federal Office of Public Health (FOPH) reported 3,105 new cases of SARS-CoV-2 infection over 24 hours, bringing the reported weekly total to 14,054, a figure 135% higher than the week before. Swiss hospitals are admitting more Covid-19 patients. An additional 68 were admitted over the last 24 hours, according to FOPH. There are currently 515 Covid-19 patients in hospitals across Switzerland, according...

The world is currently in the midst of a newly aggressive drive to bring about a new socialist order through a powerful and “efficient” technocratic state. This new order has been labeled as “progressive,” but it is merely the latest version of the socialist impulse which we have seen before in the form of socialism and communism. A War on Private Property Summed up in a single sentence, the plans of the communists aim at the abolition of private property. From...

The Fed’s rigged-casino stock market will be dragged to the guillotine by one route or another. The belief that the Federal Reserve and its rigged-casino stock market are permanent and forever is touchingly naive. Never mind the existential crises just ahead; the financial “industry” (heh) projects unending returns of 7% per year, or is it 14% per year? Never mind the details, the Fed has our back and since the Fed is forever, so too will be the gains for everyone...

An individual’s demand is constrained by his production of goods. The more goods an individual produces, the more of other goods he can secure for himself. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “If We Want to Increase Demand in the Market, We Must First Increase Production“. You Might Also Like How Historians Changed the Meaning of...

Some are holding out hope but we think the stimulus package remains dead; Fed releases its Beige Book report Wednesday; there is a full slate of Fed speakers this week Fed manufacturing surveys for October will continue to roll out; weekly jobless claims will be reported Thursday; BOC releases results of its Q3 Business Outlook Survey Monday Renewed virus restrictions are weighing on the economic outlook for the eurozone; no wonder ECB officials are sounding very...