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All four precious metals outperform markets in August Gold posts best month since January, up nearly 4% Gold reaches highest price since US election, climbs due to uncertainty and safe haven demand S&P 500 marginally higher; Euro Stoxx, Nikkei lower for month Platinum is best performing metal climbing over 5% Palladium climbs over 4% thanks to seven year supply squeeze Fear, uncertainty and political sanctions are...

© Racorn | Dreamstime Swiss employee associations are not opposed to a 60 hour week. Several parliamentary initiatives aim to loosen Swiss labour rules. The first aims to allow staff and employers more flexibility regarding hours worked and time off. The second aims to loosen rules on recording hours of work by managers and specialists. Another initiative aims to extend this to include employees with shareholdings in...

© Tea | Dreamstime A recent Credit Suisse report, entitled: Tenants Wanted, says capital continues to flow into Swiss real estate, boosting the supply of rental properties. Against a backdrop of negative interest rates at Switzerland’s central bank, investors continue to plough money into constructing new residential properties. At the same time, declining immigration has hit the demand for rental apartments. Estimated...

What makes a stock bubble is really two parts. Most people might think those two parts are money and mania, but actually money supply plays no direct role. Perceptions about money do, even if mistaken as to what really takes place monetarily from time to time. In fact, for a bubble that would make sense; people are betting in stocks on one monetary view that isn’t real, and therefore prices don’t match what’s really...

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...

Summary: Following strong Q2 GDP figures, risk is that Bank of Canada’s rate hike anticipated for October is brought forward. ECB’s guidance to that it will have to extend its purchases into next year will continue to evolve. Among Fed officials speaking ahead of the blackout period, Brainard and Dudley’s comments are the most important. Four central banks from high income countries hold policy is making...

Here’s a piece of news that the remaining human members of Wall Street’s FX sales and trading desks probably don’t want to hear. According to the Financial Times, six of the world’s largest banks have decided to join a blockchain project called “utility coin” that will allow banks to settle trades in securities denominated in different currencies without a money transfer. What’s worse, the banks expect to begin...

La baisse du taux de conversion à 6% ne serait-elle qu’un début? Avec Prévoyance 2020, vos rentes LPP pourraient bien subir un jour ou l’autre quelques réajustements supplémentaires. Il suffirait d’une nouvelle crise financière… Alors que des milliers de foyers helvétiques comptent sur les revenus de leurs capitaux LPP pour maintenir leur niveau de vie à la retraite, de telles espérances pourraient très bientôt...

Nestlé Skin Health plans to transfer manufacturing activities from the Egerkingen site to manufacturing facilities around the world(Keystone) - Click to enlarge Nestlé Skin Health will cease operations at its Egerkingen factory in canton Solothurn and move manufacturing activities abroad, threatening 190 positions. “Production volumes in Egerkingen are and have been very low, resulting in underutilisation of assets and...

- Click to enlarge I appeared on CNBC earlier today to talk about the dollar.  I was given the time to briefly sketch out my view of the dollar.  Near-term, I am concerned about the political and economic events in September,  but I am looking for a better Q4 for the greenback. I have not given up the idea that the dollar’s pullback this year is a correction to the bull move that began in mid-2014.  The euro...