Tag Archives: Featured

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...

Swiss Franc The Euro has risen by 0.09% to 1.152 CHF. EUR/CHF and USD/CHF, February 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is narrowly mixed in uneventful turnover. Of note, the dollar selling seen in Asia last week slacken today and the greenback moved above the pre-weekend highs seen in the US. It is the first time in eight sessions, the dollar...

While Switzerland isn’t the most financially secretive nation in the Tax Justice Network’s recently published report, its combination of size and secrecy pushed it into first place, the worst rank in the Financial Secrecy Index 2018. Size is factored in because it measures the damage a nation’s financial secrecy has on the world, says The Tax Justice Network. © Kevkhiev Yury _ Dreamstime.com - Click to enlarge The...

Is The Gold Price Heading Higher? IG TV Interview GoldCore Research Director at GoldCore, Mark O’Byrne talks to IG TV’s Victoria Scholar about the outlook for the gold price. In this interview, Mark O’Byrne, research director at Goldcore, says the fact that the gold price did not spike during last week’s equity sell-off was to be expected. He said even at the height of the global financial crisis, amid the collapse in...

Industrial Production in the US was revised to a lower level for December 2017, and then was slightly lower still in the first estimates for January 2018. Year-over-year, IP was up 3.7%. However, more than two-thirds of the gain was registered in September, October, and November (and nearly all the rest in just the single month of April 2017). US Industrial Production, Jan 1995 - 2018(see more posts on U.S. Industrial...

Stock Markets EM FX ended on a mixed note Friday, but capped off a very strong week overall. Best performers over the past week were RUB, ZAR, and COP, while the worst were PHP, CNY, and TWD. There is not much happening this week that could disrupt the weak dollar narrative, and so EM FX should continue to rally. Stock Markets Emerging Markets, February 14. Thailand Thailand reports Q4 GDP Monday, with growth...

The US markets are closed on Monday, and many parts of Asia will continue to celebrate the Lunar New Year. The economic schedule is fairly light, and market psychology appears fragile after the dramatic activity in equities and what appears to be shifting macro-relationships. To help navigate the challenging investment climate, we identify four “numbers” that can illuminate the path ahead. The equity market is center...

Tickets cannot be bought on public transport in Switzerland. Passengers are required to have a ticket before boarding. Those caught on public transport without one will soon have their names put into a national register. This will ensure progressively higher fines are issued to repeat offenders. ©_SBB_CFF_FFS - Click to enlarge The new database will be rolled out from April 2019, reported RTS. By the end of 2019, the...

The bright yellow buses carry passengers throughout the Alps The Federal Office of Transport has filed a legal complaint to the Attorney General’s office and judicial authorities of Bern canton in connection with the scandal hitting the Swiss PostBus company. The complaint for possible breaches of administrative law, fraud and mismanagement is filed against unnamed persons. It is also directed against any parts of the...

Global Debt Crisis II Cometh – Global debt ‘area of weakness’ and could ‘induce financial panic’ – King warns– Global debt to GDP now 40 per cent higher than it was a decade ago – BIS warn – Global non-financial corporate debt grew by 15% to 96% of GDP in the past six years – US mortgage rates hit highest level since May 2014– US student loans near $1.4 trillion, 40% expected to default in next 5 years– UK consumer debt...