Tag Archives: newsletter

There are new efforts to pass another round of stimulus sooner rather than later; we warn against getting too optimistic; US bond yields rose in anticipation of stimulus; Fed Chair Powell and Treasury Secretary Mnuchin gave somewhat conflicting outlooks for the US The Fed releases its Beige Book report for the December FOMC meeting; ADP releases its private sector jobs estimate, with consensus at 430k; Brazil outperformed yesterday on positive fiscal comments from...

2. Dezember 2020 – von Ludwig von Mises Ludwig von Mises (1881-1973) Die breite Masse der Menschen hängt keiner eigenen Idee an, weder einer guten, noch einer schlechten. Stattdessen suchen sie sich unter den vielen von intellektuellen Vordenkern erdachten Ideologien eine aus. Ihre Wahl aber ist verbindlich und bestimmt den Gang der Dinge. Wenn die Masse schlechte Grundsätze bevorzugt, ist das Unheil nicht mehr abzuwenden. Die Sozialphilosophie der Aufklärung...

Swiss Franc The Euro has fallen by 0.06% to 1.081 EUR/CHF and USD/CHF, December 4(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: After wobbling late yesterday on what appears to be old news from Pfizer about a disruption of the vaccine’s supply chain, equity markets have recovered, and risk appetites remain intact. With more than 1% gains in South Korea’s Kospi and Taiwan’s Taiex, the MSCI Asia Pacific...

The ISM reported a small decline in its manufacturing PMI today. The index had moved up to 59.3 for the month of October 2020 in what had been its highest since September 2018. For November, the setback was nearly two points, bringing the headline down to an estimate of 57.5. At that level, it really wasn’t any different from where it had been at its multi-year high the month before. Neither are indicative of any sort of “V” shaped recovery, or any shaped recovery....

By Stephen Flood Governments are likely to continue printing money to pay their debts with devalued money. That’s the easiest and least controversial way to reduce the debt burdens and without raising taxes. Ray Dalio – Bridgewater Associates This is the only chart that matters in the world today. Consider the following: Gold can only be produced at a rate of 1.6% per annum. This is a relative constant. Gold has returned 8% per year in Euros and 9% in USD terms...

I have recently read a recommendation to invest only once a quarter instead of more frequently. I think investing every quarter is bad advice and I want to explain why in this article. As I have a lot of data on my hands, I figured the best way to provide it would be to run simulations. And so I did! In this article, I will show you why you should invest every month and not less frequently than that. Investing Every Month Every month, as soon as I am done paying my...

In 1923 Lenin released a propaganda pamphlet titled Down with the Private Kitchen. It explained how private dinners with one’s family are reactionary, bourgeois, and generally something requiring total destruction. Original Article: “Why Commies Hate Your Thanksgiving Dinner“. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. You Might Also Like What Germany...

Swiss Franc The Euro has fallen by 0.09% to 1.0824 EUR/CHF and USD/CHF, December 3(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview:  Selling pressure on the dollar and US Treasuries intensified in North America yesterday.  The dollar fell to new lows against the dollar-bloc, euro, and Swiss franc yesterday. The US 10-year yield rose to new three-week highs.  The S&P 500 set a new closing record high.  While...

A Swiss national flag flutters in the wind atop the Swiss National Bank SNB headquarters in Bern, Switzerland April 16, 2015. REUTERS/Ruben Sprich/File Photo - Click to enlarge Project Helvetia shows the feasibility of two proofs of concept (PoCs), using “near-live” systems to settle digital assets on a distributed ledger with central bank money. A PoC linking the existing payment system to a distributed ledger and another issuing a wholesale central bank digital...

Stimulus talks continue but the goalposts have indeed been moved; the good news is that a package before year-end is looking more likely; optimism regarding stimulus continues to buoy US yields ISM services PMI is expected at 55.8 vs. 56.6 in October; weekly jobless claims data will be reported; Fed Beige Book report was suitably downbeat The noise level around Brexit continues to rise are we approach the finish line; eurozone and UK data came in firmer than...