Tag Archives: newsletter

As I often note here, when you push the pendulum to an extreme of wealth and income inequality, it will swing to the opposite extreme minus a tiny bit of friction. The depth of America’s indoctrination can be measured by the unquestioned assumption that Capital should earn 15% every year, rain or shine, while workers are fated to lose ground every year, rain or shine. And if wages should ever start ticking upward even slightly, then the Billionaires’ Apologists are...

Health concerns over toxic metals in remote communities near a mining complex in the Peruvian Andes are gaining ground after the publication of several reports. Glencore which owns the mine, points at natural mineralisation of the environment. Villagers say the Tintaya-Antapaccay mine has left animals in their herds dying or aborting and people becoming severely ill Paula Dupraz Over 1,000 kilometres from Peru’s capital, and half a world away from Glencore’s...

Swiss Franc The Euro has risen by 0.04% to 1.0849 EUR/CHF and USD/CHF, July 12(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The new week has begun quietly. The dollar is drifting a little higher against most major currencies, with the Scandis and dollar-bloc currencies the heaviest. The yen and Swiss franc’s resilience seen last week is carrying over. Most liquid and freely accessible emerging market...

Until last week you hadn’t heard much about the bond market rally. I told you we were probably near a rally way back in early April when the 10 year was yielding around 1.7%. And I told you in mid-April that the 10 year yield could fall all the way back to the 1.2 to 1.3% range. The bond rally since April has been of the stealth variety, the financial press and market strategists dismissing every tick down in rates as nothing. It was a lonely trade to put on and yes...

The interests of small innovative countries must be taken into account in international corporate tax measures, says Swiss Finance Minister Ueli Maurer, who has been attending the G20 meeting in Italy. US Treasury Secretary Janet Yellen, (centre), arrives for a G20 meeting on Friday, the first one to be held in person since the pandemic began Copyright 2021 The Associated Press. All Rights Reserved Tax was a key issue at the two-day meeting of finance ministers and...

Climate change is causing extreme weather, also in Switzerland. A climate taskforce – like the Covid 19 science task force – makes sense, a leading Swiss climate scientist says. Wildfire in Doyle, California, US, on July 10 Keystone / Noah Berger Humankind should get used to heatwaves, fires, torrential rain, landslides, flooding and bad harvests, Sonia Seneviratne,External link a professor at the Institute for Atmospheric and Climate Science at the Swiss Federal...

So much going on this week in the bond market, it actually overshadowed the ridiculous noise coming from the Fed’s reverse repo. Some maybe too many want to make a huge deal out of this RRP if only because the numbers associated with it have gotten so big. To end Q2 2021, financial counterparties “lent” just about $1 trillion to the Fed. Holy cow! A trillion! There’s way too much money! Eh. The RRP, especially around its more informative margins, has little to do...

There is quite an unusual price context for new week’s economic events, which include June US CPI, retail sales, and industrial production, along with China’s Q2 GDP, and the meetings for the Reserve Bank of New Zealand, the Bank of Canada, and the Bank of Japan. In addition, the US Treasury will sell $120 bln in coupons while the US earned income tax credit and the child tax credit is rolled out. The dollar surged even while interest rates fell. The US 10-year yield...

The European Commission has given the Swiss Covid certificate a green light for inclusion on the EU-wide digital Covid certificate platform. This means that holders of Swiss Covid certificates are able to present their Swiss-issued Covid certificate QR codes at ports of entry into EU nations under the same conditions as holders of certificates from EU nations. © maramade | Dreamstime.com The Swiss Covid certificates are valid in 27 EU countries plus Iceland and...

According to RTS, Brussels is close to giving the Swiss Covid certificate a green light for inclusion on the EU-wide digital Covid certificate platform. This means that Swiss residents will soon be able to present their Swiss-issued Covid certificate QR codes at ports of entry into EU nations. © Valerio Rosati | Dreamstime.com Swiss digital Covid certificates are expected to work in the EU by Friday 9 July 2021 or next Monday. According to RTS, a commission, composed...