Tag Archives: Featured

Swiss Franc The Euro is stable by 0.00% to 1.072 EUR/CHF and USD/CHF, October 21(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The dollar is falling against most of the world’s currencies today, even as long-term yields rise to the most in four months and drags global yields higher. The US 10-year yield is pushing above 0.80%, and the 30-year is above 1.60%. Many are linking the backup in yields to prospects...

Second Covid Wave in Europe The second wave of the Coronavirus is currently raging in Europe.  The attached image shows the number of newly infected people in European countries on a linear scale. In particular in the Czech republic, but also in Switzerland, France or Spain, one can see a tendency towards exponential growth. New cases in Europe - Click to enlarge Multiplier between Newly Infected and Newly  Recovered Many people quickly recover after having...

Clearly, the Fed reckons the public is foolish enough to believe the Fed’s money will actually be “free.” It’s pretty much universally recognized that authorities use crises to impose “emergency powers” that become permanent. This erosion of civil and economic liberties is always sold as “necessary for your own good.” Of course the accretion of ever greater power in the hands of the few is for our own good. How could it be otherwise? (Irony off) In this environment...

© thanakorn hormniam _ Dreamstime.com SARS-CoV-2 tests that give results in 15 minutes scored well on sensitivity, according to a study by Unisanté in Lausanne, Switzerland. The tests, which involve taking a sample of nasal secretions from the back of the nose and throat, test for a protein present in the virus. The main PCR test used currently looks for genetic material specific to the virus, a more complicated laboratory-based process that can take around a day....

The dollar is coming under pressure again; markets are finally waking up to the fact that a stimulus deal before 2021 is unlikely; 10-year Treasury yields have been trading in a narrow range for months The quiet US data week continues; Ireland broke from the pattern of how other European countries are tightening mobility rules; Hungary is expected to keep the base rate steady at 0.60%. Japan reported September convenience store sales; dovish RBA remains dovish;...

Swiss Franc The Euro has risen by 0.11% to 1.0721 EUR/CHF and USD/CHF, October 20(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The capital markets lack a clear direction today. This is reflected in narrowly mixed equities, bonds, and currencies. The spreading contagion is giving rise to new economic concerns, among other things, and the UK-EU talks are struggling to resume, while Pelosi-Mnuchin talks in the...

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 partners decided to spend more. This is partially...

© Patrik Slezák | Dreamstime.com On 16 October 2020, Switzerland’s Federal Office of Public Health (FOPH) reported 3,105 new cases of SARS-CoV-2 infection over 24 hours, bringing the reported weekly total to 14,054, a figure 135% higher than the week before. Swiss hospitals are admitting more Covid-19 patients. An additional 68 were admitted over the last 24 hours, according to FOPH. There are currently 515 Covid-19 patients in hospitals across Switzerland, according...

The world is currently in the midst of a newly aggressive drive to bring about a new socialist order through a powerful and “efficient” technocratic state. This new order has been labeled as “progressive,” but it is merely the latest version of the socialist impulse which we have seen before in the form of socialism and communism. A War on Private Property Summed up in a single sentence, the plans of the communists aim at the abolition of private property. From...

The Fed’s rigged-casino stock market will be dragged to the guillotine by one route or another. The belief that the Federal Reserve and its rigged-casino stock market are permanent and forever is touchingly naive. Never mind the existential crises just ahead; the financial “industry” (heh) projects unending returns of 7% per year, or is it 14% per year? Never mind the details, the Fed has our back and since the Fed is forever, so too will be the gains for everyone...