Tag Archives: Featured

The apparent hawkishness of Fed Chair Powell's comments at the press conference following the FOMC's fourth consecutive rate hike extended the dollar's recovery, which had begun in late October. However, the inability of the greenback to rally after the stronger-than-expected jobs data suggests the bounce has ended. Still, participants may be cautious ahead of the October CPI report due November 10. Although many may think Powell indicated that the Fed was finished...

There are three potential inflection points. The first is a pause from the Fed; if nothing else, Powell signaled it was too early to think about it. The second is for the Bank of Japan to change monetary policy. Governor Kuroda has signaled that it is not time. Conventional wisdom is there will not be a change until Kuroda's term ends next April. However, we note that the surveys suggest economists and BOJ inflation forecasts for next year have converged. The third...

In July 2022, the Canadian government announced its intention to reduce “emissions from the application of fertilizers by 30 percent from 2020 levels by 2030.” In the previous month, the government of the Netherlands publicly stated that it would implement measures designed to lower “nitrogen pollution some areas by up to 70 percent by 2030,” in order to meet the stipulations of the European “Green Deal,” which aims to “make the EU’s climate, energy, transport and...

Overview: Risk appetites have returned but may be tested by the US jobs report. News of progress with US auditors in China helped lift Hong Kong and Chinese equities. Most of the large bourses in the region also rose. Europe’s Stoxx 600 is up a little more than 1% near midday after shedding 1.3% over the past two sessions. US futures also are trading with an upside bias. Benchmark 10-year yields are mostly a little softer today. The 10-year US Treasury yield is at...

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In der Vergangenheit gab es immer wieder Probleme mit traditionellen Finanzdienstleistern, die ihre Partnerschaft mit Binance an diverse Bedingungen knüpften. Binance könnte sich nun dazu entschlossen haben, diese Bedingungen zu umgehen, in dem die Cryptobörse einfach seine eigene Bank kauft. Crypto News: Wird Binance eine eigene Bank kaufen?Binance CEO Zhao hatte zuletzt angekündigt, bis zu eine Milliarde US-Dollar in „Acquisitions“ in den kommenden Monaten...

Overview: The Fed delivered the expected 75 bp rate hike, and although it says it will take into account the cumulative effect of past hikes and their lagged impact, the takeaway has been a hawkish message. Risk appetites have evaporated. The dollar is stronger, while stocks and bonds have been sold. Japan’s markets were spared due to the national holiday, but the other large markets in the area were sold, lead by the 3% decline in the Hang Seng. Europe’s Stoxx 600...

Project Mariana explores automated market makers (AMM) for the cross-border exchange of hypothetical central bank digital currencies (CBDCs) in Swiss francs, euros and Singapore dollars between financial institutions to settle foreign exchange trades in financial markets. Mariana uses decentralised finance (DeFi) protocols to automate foreign exchange markets and settlement, potentially improving cross-border payments (and supporting a priority of the G20). Today,...

Schwarzenbach (left) leaving a court building back in 2017. © Keystone / Walter Bieri A court in Zurich has rejected an appeal by the renowned Swiss art collector and financier Urs Schwarzenbach in two cases of tax evasion in connection with the import of works of art. The court also decided to increase from CHF8.5 million ($8.5 million) to 9.6 million the fines compared with a previous court verdict, it was announced on Monday. Judges also massively increased...

One of the interesting aspects of President Biden’s Inflation Reduction Act was the allocation of $80 billion in increased funding for the Internal Revenue Service, one of the most powerful and tyrannical agencies in U.S. history. The money is intended to be used for enhanced tax enforcement, especially through the potential hiring of 87,000 new IRS agents who, to borrow a phrase from the Declaration of Independence, will be further eating out the substance of the...