Tag Archives: newsletter

[unable to retrieve full-text content]Switzerland’s economy will be back to its pre-pandemic level as early as this year and does not need a stimulus package, says Sabine D'Amelio-Favez, director of the Federal Finance Administration. The Confederation has incurred debts of CHF30 billion ($33 billion) to stem the economic consequences of Covid-19, she said in an interview published on Saturday by newspapers of the CH Media group.

On Wednesday, the Federal Reserve’s Federal Open Market Committee voted to continue with a target federal funds rate of 0.25 percent, and to continue with large-scale asset purchases. According to the committee’s press release: The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s...

What if everyone in the market realizes it’s now the moment to front-run the crash? We have a fine-sounding word for running with the herd: momentum. When the herd is running, those who buy what the herd is buying and sell what the herd is selling are trading momentum, which sounds so much more professional and high-brow than the noisy, dusty image of large mammals (and their trading machines) mindlessly running with the herd. We also have a fine-sounding phrase for...

[unable to retrieve full-text content]Three city blocks were systematically burned to the ground as hundreds of the local police stood by and viewed the violence. They were obeying orders not to harm the arsonists. The National Guard was called, adding more armed watchers. A passive gendarmerie consorting with open rebellion has rarely been seen in American history, until recently.

Credit Suisse chairman, António Horta-Osório, is warning of a “tough period” ahead for the bank. Keystone / Andy Rain Credit Suisse’s disastrous Greensill and Archegos investments have highlighted the destructive side of banking. Regulators and politicians are asking what the Swiss bank did wrong and what can be done to protect investors from future risk-assessment failures. Experts point to shortcomings in risk management and say corporate culture has to change. The...

[unable to retrieve full-text content]This year Switzerland will provide more than CHF12 million ($13 million) in humanitarian aid to Venezuela and the region, it said at the Donors’ Conference in Solidarity with Venezuelan Refugees and Migrants.

Recently the U.S. Supreme Court declined to consider a challenge to the all-male draft. The plaintiffs in the case argued that excluding women from the draft was unconstitutional. Apparently the Court is simply letting Congress decide the issue.  I’ve got an idea — an idea grounded in freedom. How about abolishing the draft — and, of course, draft registration? In fact, better yet, how about enacting a constitutional amendment prohibiting the draft from ever being...

Swiss Franc The Euro has risen by 0.14% to 1.0936 EUR/CHF and USD/CHF, June 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: After some dramatic moves over in the immediate post-Fed period, the markets have quieted. The kind of volatility that is sometimes associated with triple witching expirations in the US may have already taken place. Asia Pacific equities were mixed, but the MSCI benchmark finished with...

[unable to retrieve full-text content]Swiss banks have been able to strengthen their capital bases despite deteriorating economic conditions during the coronavirus pandemic, according to the Swiss National Bank (SNB). This applies to the two big banks, UBS and Credit Suisse, and also domestic banks.

[unable to retrieve full-text content]Switzerland is lagging behind most European countries when it comes to solar and wind power. In terms of per capita production, it ranks second to last in comparison with surrounding countries, according to the Swiss Energy Foundation (SES).