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Tag Archives: newsletter

EM Preview for the Week Ahead

Persistent risk-off impulses weighed on EM last week and that may continue this week. The Asian currencies outperformed last week while MXN, ZAR, and COP underperformed, and we expect these divergences to continue. Despite optimism about a stimulus package in the US, we think it remains a long shot. Meanwhile, virus numbers are rising in Europe and the US, with data from both regions likely to continue weakening. AMERICAS Mexico reports August trade Monday. A...

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Rent Control Is Bad for Renters, but Good for Politicians

Ontario’s ever-changing rent control policies prove that politicians are just as committed to flip-flopping as the Minnesota Vikings are to not winning the Super Bowl. Rent Control as a Means of Buying Votes Ontario's modern history of rent control legislation began during the 1975 election campaign, when it was actively promoted by the New Democratic Party (NDP). This was the stagflation era, and the NDP conveniently ignored Canadian monetary policy as a...

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Adjustments to publication of data on money and foreign exchange market operations

Additional data on money market operations and more frequent publication of volume of foreign exchange market interventions From 30 September 2020, the Swiss National Bank will be publishing more detailed data on its money and foreign exchange market operations on its data portal. Regarding money market operations, the SNB will now publish information on the conditions and volume of individual monetary policy-related transactions at the end of each month for the...

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Switzerland to ramp up seasonal flu vaccinations to cut Covid-19 co-infection risk

© Arturs Budkevics | Dreamstime.com As winter approaches the federal and cantonal governments of Switzerland are hoping a larger number of people than normal will get the seasonal flu jab as the spread of Covid-19 continues, according to RTS. In a regular year Switzerland orders 1.2 million doses of the seasonal flu vaccine. These doses have already been ordered and will be delivered in late September and early October. This year the federal government is aiming for...

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The slow but steady progress of driverless buses in Switzerland

When the Belle-Idée project is fully up and running, three shuttle buses will offer a 24-hour on-demand door-to-door service at the Geneva hospital site. swissinfo.ch Over the past five years, various kinds of autonomous vehicles, including buses, have popped up on Swiss roads. But though testing continues, a driverless future might yet be some years away. On a crisp autumn morning in the Geneva countryside, a bright orange-and-white electric bus is winding through...

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Consumer Mood Darkens On Employment Prospects

A Fed survey of expectations shows that the consumer mood darkens on employment and job prospects. Job Transitions This chart shows the changes in employment status of respondents who were  employed four months ago. The Fed survey asks individuals currently employed (excluding self-employment) whether they are working in the same job as when they submitted their last survey. If in the past four months they have answered that they now work for a different employer,...

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Heavy Metal Selling

Anxiety about an increase in Covid19 cases and fears of a second wave coupled with revelations of historic money laundering practices of major global banks weighed heavily on financial markets yesterday. Precious metals were not immune to the sell off which saw gold below $1,900 and silver off a whopping 12% during intraday trading. The following charts show the short term support that halted the rout in precious metals by the end of the day. With the negative news...

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FINMA rügt Bank SYZ wegen Verstössen in der Geldwäschereibekämpfung

Die Eidgenössische Finanzmarktaufsicht FINMA hat in einem Enforcementverfahren festgestellt, dass die Bank SYZ SA gegen die Geldwäschereibestimmungen verstossen hatte. Die Verstösse erfolgten im Kontext einer sehr bedeutenden Geschäftsbeziehung mit einem Kunden aus Angola. Im Februar 2020 eröffnete die FINMA ein Enforcementverfahren gegen die Bank SYZ SA, um Hinweisen auf Verstösse gegen die Geldwäschereibestimmungen nachzugehen. Diese Hinweise betrafen eine sehr...

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Swiss regulator censures Bank Syz over money laundering

FINMA described the bank’s money laundering processes as “inadequate” and reprimanded it for a breach of its duty of due diligence in relation to anti-money laundering rules. © Keystone / Gaetan Bally The Swiss financial market regulator FINMA has reprimanded Bank Syz for breaching money laundering rules involving a business relationship with an Angolan client. “FINMA found that the bank did not make sufficient efforts to investigate the substantial growth in the...

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Rapid Covid-19 tests could offer a path back to normal

Some countries like India have made rapid antigen tests a key part of their strategy for containing the coronavirus. Keystone / Str Swiss pharmaceutical company Roche plans to launch a test that can detect the coronavirus in 15 minutes. Could tests like this become the norm? With no vaccine in sight for at least a few months, testing is becoming a more important part of containing the coronavirus. Antigen tests, which detect the presence of a specific viral antigen...

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