Tag Archives: newsletter

Swiss Franc The Euro has risen by 0.08% to 1.0837 EUR/CHF and USD/CHF, July 15(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Strong inflation prints this week have not prevented the long-term US interest rates from tumbling. The 10-year yield is about 10 bp lower than where it closed on Tuesday after the lackluster 30-year auction. The 30-year yield itself is 11 bp lower. Fed Chair Powell did not break new...

Canton Bern expects water levels on Lake Thun, Lake Biel and in the city of Bern to significantly exceed flood limits in the coming days. On Lake Biel it’s possible the situation will be similar to the flood of the century in 2005. The River Simme in Wimmis, canton Bern, on Tuesday Keystone / Peter Schneider Bern’s state chancellery said on Wednesday it expected the flood level on Lake Biel to be exceeded by 25-65 centimetres. Lake Thun is expected to swell to 25-40...

And just like that, snap of the fingers, it’s gone. Without a “bad” Treasury auction, there was no stopping the bond market today from retracing all of yesterday’s (modest) selloff and then some. This despite the huge CPI estimates released before the prior session’s trading, and now PPI figures that are equally if not more obscene. The BLS reports today that its main producer price index (PPI), the one for finished goods, was up 9.19% year-over-year in June 2021....

Swiss Franc The Euro has risen by 0.18% to 1.0833 EUR/CHF and USD/CHF, July 14(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The Reserve Bank of New Zealand jumped to the front of the queue of central banks adjusting monetary policy by announcing the end of its long-term asset purchases. New Zealand’s s 10-year benchmark yield jumped seven basis points, and the Kiwi is up almost 1%, to lead the move against...

Three in a row, huge CPI gains. According to the BLS, headline consumer price inflation surged 5.39% (unadjusted) year-over-year during June 2021. This was another month at the highest since July 2008 (the last transitory inflationary episode). The core CPI rate gained 4.47% last month over June last year, the biggest since November 1991. U.S. Core CPI, Jan 1990 - Jan 2021(see more posts on U.S. Core CPI, ) - Click to enlarge More impressive (or worrisome,...

On 13 July 2021, Switzerland’s Federal Office of Public Health (FOPH) reported 483 new cases of Covid-19, up from a daily average of 274 over the preceding three days. © Sweet Hour Photography | Dreamstime.com The rise in cases follows a rising trend in the incidence of the more infectious Delta variant, which now makes up the majority of DNA sequenced samples in Switzerland. The latest reproduction rate, or R number, in Switzerland overall is 1.47, which means that...

Sub-Saharan Africa is a key region for Swiss foreign policy External link and digitisation will play a major role in that strategy. To this end, “Crypto Nation” Switzerland is throwing its weight behind a public-private partnership to find blockchain solutions to some of the challenges facing the continent. The success of the M-Pesa mobile phone payment scheme in Kenya, and now other countries, demonstrates how digital innovation can overcome infrastructure...

Sohrab Ahmari’s new book The Unbroken Thread: Discovering the Wisdom of Tradition in An Age of Chaos is so disappointing I don’t know where to begin. This may seem to be a harsh invective, but in reality, it is a confession. My previous attempts to review this book have resulted in little more than hours and hours of frustration and discarded drafts. Such frustration stems in part from the sympathy I have for Ahmari’s general goal and a desire to do his work...

Swiss Franc The Euro has fallen by 0.18% to 1.0831 EUR/CHF and USD/CHF, July 13(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: New record highs in the US S&P 500 and NASDAQ coupled with China allowing Tencent to acquire a search engine helped lift Asia Pacific equities. It is the first back-to-back by MSCI’s regional index for more than two weeks. Australia’s market was a notable exception. The lockdown...

13.07.2021 – The Producer and Import Price Index rose in June 2021 by 0.3% compared with the previous month, reaching 102.7 points (December 2020 = 100). In particular, basic metals and semi-finished metal products, scrap and petroleum products saw higher prices. Compared with June 2020, the price level of the whole range of domestic and imported products rose by 2.9%. These are the results from the Federal Statistical Office (FSO). In particular, higher prices for...