Tag Archives: Barack Obama

First The Telegraph, then The Sun, and today The Spectator all came out on the “Leave” side of the Brexit debate. However, perhaps even more shocking to the establishment is the CIO of a major bank’s asset management arm dismissing the apparent carnage that Cameron, Obama, and Osborne have declared imminent, warning that, “many articles on the Brexit vote overstate its risks and consequences.” As JPM’s Michael...

Swiss Franc Once again both EUR and USD broke down against the franc. The adverse effect of the Friday US jobs reports is visible again.Moreover, CHF appreciated with the Asian block, with AUD and NZD and with the oil price. Swiss sales are pretty high to Asian countries. We also know that rising oil prices usually lead to a stronger CHF. Japan The Japanese yen is the major currency not to be gaining against...

  It’s all in your head…and that’s where it shall remain! Illustration via thesurvivalchannel.com Who Cares What Voters Want? BALTIMORE, Maryland –  There were two newsworthy developments last week, neither of them really important – the first because it won’t happen, the second because it won’t matter. First, the Fed let it be known that it has “normalcy” once again in its sights. “Prospect of rate rise grows as U.S. moves closer to passing Fed tests,” reported the Financial Times on...

Sometimes the mountain looks clearer from the plain the summit to paraphrase a American-Lebanese poet.   The dollar appears to have entered a new phase on May 3.  On that day, it reversed higher against the euro, yen, and sterling for lows not seen in a while.     It is tempting to construct a fundamental narrative for the change.  However, the usual drivers are noticeable by their absence.  The US economic data has been mixed, including the employment report that often sets the tone for...

As Norway offers cash for refugees to leave, announcing that they won’t be accepting any more refugees from the EU, and Switzerland prepares its military to close down borders, the EU has seemingly had enough of every country acting as if it has any type of sovereignty left. The European Commission has announced that it is going to pull rank on everyone, and in Obama-like fashion, will be fining countries for not taking their fair share of refugees. Here is a detailed summary of all that...