Tuesday , July 7 2020
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Tag Archives: Featured

FX Daily, July 6: New Record Number of Covid Cases Doesn’t Curtail Appetite for Risk

Swiss Franc The Euro has risen by 0.07% to 1.064 EUR/CHF and USD/CHF, July 6(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: A new daily high number of contagions globally has been reported, but the risk-appetites have been stoked. Chinese stocks have been on a tear. The Shanghai Composite rallied 5.7% today to bring the five-day advance to 13.6%. Most other regional markets, including Hong Kong, rallied as well...

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Swiss sustainable finance: world leader or wishful thinking?

Defining the exact nature of sustainable finance and measuring its performance is an ongoing process. Keystone / Guillaume Horcajuelo The Swiss financial centre wants to take a lead in ethical investing. NGOs, however, fear the banks are more interested in cashing in than saving the planet. One thing everyone agrees on is the need for a universal definition of sustainable finance and measures to oversee the sector. Sustainable finance invests in the environmental,...

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What Makes You Think the Stock Market Will Even Exist in 2024?

Given the extremes of the stock market’s frauds and even greater extremes of wealth/income inequality it has created, tell me again why the stock market will still exist in 2024? When I read a financial pundit predicting a bull market in stocks through 2024, blah-blah-blah, I wonder: what makes you think the stock market will even exist in 2024, at least in its current form? Given the current trajectory of the real economy into the Greatest Depression while the...

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EM Preview for the Week Ahead

Risk assets remain hostage to swings in market sentiment. Stronger than expected US jobs data last week was welcome news. However, the tug of war between improving economic data and worsening viral numbers is likely to continue this week, with many US states reporting record high infection rates. AMERICAS Brazil reports May retail sales Wednesday. Sales are expected to contract -13.5% y/y vs. -16.8% in April. June IPCA inflation will be reported Friday, which is...

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The Social Consequences of Zero Interest Rates

Anyone who has ever been to Japan knows: Japan is special. The country has many strange habits. The Japanese culture is simply different and many peculiarities are hardly understood in the West. But it’s not only the old established traditions that are foreign to us Westerners. Just as disturbing are social developments such as the increasing tendency of Japanese people to overwork, parasite singles who isolate themselves, or the existence of platonic relationships...

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Will the Police Crack Down on Lockdown Violators the Second Time Around?

It will be very interesting if the police—who did nothing to disperse protests that were obviously in violation of bans on mass gatherings—turn around and arrest business owners and other “violators” of a second round of stay-at-home orders. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Will the Police Crack Down on Lockdown Violators the Second Time Around?​“...

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New cars on Swiss roads failed to meet emissions targets

Queuing up near Vevey on Lake Geneva. © Keystone / Cyril Zingaro Fuel consumption and emissions limits for new cars in Switzerland missed their target in 2019 for the fourth year in a row. This resulted in sanctions totalling CHF78 million for car importers. Last year, the 314,000 new cars registered in Switzerland spat out CO2 emissions of about 138.1 grams per kilometre, a rise of 0.2% on 2018, the Federal Office for Energy said on Thursday. This means new cars...

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Swiss retail sales up 30 percent in May after COVID-19 measures eased

© Nora Tarvus | Dreamstime.com Recently published figures show a overall jump of 30.2% in retail sales in May 2020 compared to April 2020. May’s rise of 30.2% follows falls of 6.5% in March and 13.7% in April. However not all retail sectors experienced the same rise in May sales. Food, drink and tobacco sales rose 3.4% and fuel sales were up 6.3% month on month. Clothing and shoe sales were up a whopping 433.5% compared to April. Clothing and shoe sales fell 55.4%...

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Reality Beckons: Even Bigger Payroll Gains, Much Less Fuss Over Them

What a difference a month makes. The euphoria clearly fading even as the positive numbers grow bigger still. The era of gigantic pluses is only reaching its prime, which might seem a touch pessimistic given the context. In terms of employment and the labor market, reaction to the Current Employment Situation (CES) report seems to indicate widespread recognition of this situation. And that means how there are actually two labor markets at the moment. Occupying the...

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Gold Will “Trend Toward $10,000 Per Ounce Or Higher” Over The Next Four Years

◆ Central Banks Are “Gold’s Greatest Ally” and They Will Push Gold Prices Much Higher Jim Rickards holds gold bar in Zurich vault You’re likely aware of the price action in gold lately. Gold has rallied from $1,591 per ounce on April 1 to $1,782 per ounce as of today. That’s a 12% gain in less than three months. My earlier forecast was that gold would hit $1,776 by the Fourth of July. I guess I was a bit early! Today’s price of $1,782 per ounce is the highest since...

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