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Tag Archives: Featured

China Says It Is Ready To Assume “World Leadership”, Slams Western Democracy As “Flawed”

Over the weekend China used the Trump inauguration to warn about the perils of democracy, touting the relative stability of the Communist system as President Xi Jinping heads toward a twice-a-decade reshuffle of senior leadership posts. Without directly referencing the new president, China wrote that democracy has reached its limits, and deterioration is the inevitable future of capitalism, according to the...

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The Collapse of the Left

The Left is not just in disarray–it is in complete collapse because the working class has awakened to the Left’s betrayal and abandonment of the working class in favor of building personal wealth and power. The source of the angry angst rippling through the Democratic Party’s progressive camp is not President Trump–it’s the complete collapse of the Left globally. To understand this collapse, we turn (once again) to...

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Weekly Sight Deposits and Speculative Positions: Weaker dollar let SNB accumulates losses

Headlines Week January 23, 2017 Who has read Milton Friedman knows that the Trump reflation trade is now showing its positive side. US wages are rising by 2.5%, while inflation is still relatively low. According to Friedman, inflation will increase only later. This implies that speculators are long the dollar and short the Swiss franc and the euro during the weak inflation period. The last ECB meeting showed that the...

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Weekly Speculative Position: CHF getting stronger, net shorts stable

Swiss Franc Speculators were net short CHF in January 2015, shortly before the end of the peg, with 26.4K contracts. Then again in December 2015, when they expected a Fed rate hike, with 25.5K contracts. The biggest short CHF, however, happened in June 2007, when speculators were net short 80K contracts. Shortly after, the U.S. subprime crisis started. The carry trade against CHF collapsed. The...

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Weekly SNB Intervention Update: Sight Deposits and Speculative Position

Headlines Week January 23, 2017 Who has read Milton Friedman knows that the Trump reflation trade is now showing its positive side. US wages are rising by 2.5%, while inflation is still relatively low. According to Friedman, inflation will increase only later. This implies that speculators are long the dollar and short the Swiss franc and the euro during the weak inflation period. The last ECB meeting showed that the...

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Emerging Markets: Preview for the Week Ahead

Stock Markets EM FX ended last week on a firm not, led by a huge MXN rally on Inauguration Day. We believe that the peso rally was largely driven by positioning and technicals, and so we view Friday’s gains as a correction since the fundamental outlook remains unchanged. Indeed, we think the broader EM rally will be short-lived too, as US interest rates remain elevated. The 10-year yield flirted with the 2.5% level,...

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FX Weekly Preview: The Challenging Week Ahead

Summary: Investors will finally be able to focus on what the new US President does rather than what he says. The UK Supreme Court decision is expected, but it may not be the driver than it may have previously seemed likely. The dollar-yen rate does not appear to be driven by domestic variable as much as US yields and equities. Prices not real sector data may be the key for the euro. United States The US...

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Switzerland’s costliest cantons for tax, housing, health, commuting, and childcare

This week the bank Credit Suisse published its cantonal cost of living report. Its ranking considers a typical household’s biggest expenses: tax, housing, commuting, basic health insurance and childcare. It takes income and deducts all of these costs to arrive at a measure of disposable income. In a simplified world it might be expected that low tax rates would push up the cost of most other things as the wealthy...

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Swiss fact: Switzerland has one of the world’s lowest home ownership rates

In Romania, 96.1% of the population owns the home they live in. In Switzerland the percentage is 37.4%. © Dirima | Dreamstime.com - Click to enlarge Home ownership rates vary significantly across the country. The lowest rates are found in the canton of Basel-City (16.0%) and Geneva (18.3%). Relative to these two cities, home ownership abounds in Valais (57.2%), the highest. Vaud (31.4%), Zurich (28.5%), Bern (39.9%),...

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FX Weekly Review, January 16 – 21: Dollar Still Appears to Carving out a Bottom

  Swiss Franc Currency Index During the last month the Swiss Franc index recovered some of the losses since the election of Donald Trump. Its performance is +2%, while the dollar index is 2% down. Trade-weighted index Swiss Franc, January 21(see more posts on Swiss Franc Index, ) Source: markets.ft.com - Click to enlarge   Swiss Franc Currency Index (3 years) The Swiss Franc index is the trade-weighted...

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