Tag Archives: Featured

The Swiss Real Estate Bubble and Rents The number of empty dwellings is an important indicator for the Swiss real estate bubble. Prices of Swiss real estate had risen by 5%-8% per year between 2009 and 2014, while rents for existing contracts are regulated and have not followed this path yet. Landlords can only introduce higher prices levels for new buildings or new contracts. The reader should bear in mind that the...

– “Things have been going up for too long…” – Goldman Sachs’ CEO – Lloyd Blankfein, Goldman CEO “unnerved by market” (see video) – Bitcoin bubble is no outlier says Bank of America Merrill Lynch– Bubbles are everywhere including London property– $14 trillion of monetary stimulus has pushed investors to take more risks– We are now in a new era of bigger booms and bigger busts – BAML– “Seeing signs of bubbles in more and...

Chiasso is establishing itself as a rival to Zug's Crypto Valley for fintech start-ups (Keystone) - Click to enlarge Switzerland ramped up its bid to become a global hub for financial technology (fintech) and cryptocurrency start-ups with the decision by a town on the Italian border to accept tax payments in bitcoin. Chiasso announced that it would take bitcoin to settle up to CHF250 ($265) of tax bills from the...

Summary: The dollar has been declining since the start of the year, but the causes have changed. The drag from US politics may be exaggerated, while European and Japanese politics are worrisome. The economic data may continue to be a drag on US yields, especially if core CPI slips again. The US dollar’s sell-off accelerated. It has been selling off since the start of the year. The first phase of the decline at...

Stock Markets EM FX ended the week on a mixed note, but still capped off a strong week overall. US data this week could challenge the market’s dovish take on the Fed. For now, though, the global liquidity outlook still seems to favor further gains in EM. Stock Markets Emerging Markets, September 11 Source: economist.com - Click to enlarge China China should report August new loan and money supply data this...

This update will be a bit shorter than usual. I’m in Miami awaiting Hurricane Irma. As of now, it looks like the eye of the storm will make landfall near Key West and continue west of us with the Naples/Ft. Myers area at risk. Or at least that’s the way it looks right now. I’ve done a lot of these storms though – I lost a house in Andrew in ’92 – and you never know what these things will do.  We are secure in a house...

EUR/CHF The euro rose close to CHF 1.15 with the ECB meeting this week. Finally traders realized that the ECB committed not to hike rates for a very long time. The ECB will review and take a first decision on the bond purchasing program this autumn. However, this program will come to an end only when the inflation target of 2% becomes in reach. Strangely the EUR/CHF reacted with losses only on Friday. Where will Euro...

Numbers of banks in Switzerland have shrunk since the financial crisis. Over half of private banks in Switzerland analysed by KPMG last year experienced net outflows of client cash. In a difficult period for finance, many could be forced to shut down or be bought out. “Implement truly radical change, or continue to see performance deteriorate.” This was the message of a study released Thursday by audit group KPMG with...

The changes would affect a range of telecoms services. Switzerland is one of the most connected countries on the planet, but mobile and internet users in still grumble about lack of choice, unwelcome cold-calling from companies, and high roaming charges when travelling abroad. The revised Telecommunications Actexternal link, sent by the cabinet to the parliament on Thursday, makes a stab at tackling some of these...

– Gold hits $1,355/oz as USD at 32-month low -concerns about Trump, US economy– Silver and platinum 2.3% and 1.2% higher in week; palladium 3% lower– Euro Stoxx flat for week – S&P 500, Nikkei down 0.65% and 2.2%– Geo-political concerns including North Korea, falling USD push gold 2.1% in week – Gold prices reach $1,355 this morning following Mexico earthquake– Safe haven demand sees gold over one year high,...