Tag Archives: newsletter

Swiss Franc The Euro has fallen by 0.32% at 1.097 EUR/CHF and USD/CHF, July 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The gains in US equities and the apparent US budget agreement has underpinned equities today and the US dollar. Asia Pacific equities recouped yesterday’s losses, and Europe’s Dow Jones Stoxx is posting gains for the third consecutive...

Folks in the liberty movement often say that the economy is fake. But this does not persuade anyone. It’s just preaching to the choir! We hope that this series on GDP provides more effective ammunition to argue with the Left-Right-Wall-Street-Main-Street-Capitalists-Socialists. We frame it that way, because nearly everyone loves to tout GDP (though some do so only when it suits their political agenda). It is fashionable...

The interim Spanish prime minister, the socialist Pedro Sánchez, will aim to form a government this week. Outside the political noise, the Spanish economy continues to do well. April’s elections in Spain resulted in a fragmented parliament, making the formation of a government complicated. Acting prime minister Pedro Sánchez of the Socialist Party (PSOE) goes to parliament this week to seek backing for his bid to form a...

Tourists from Asia are still outnumbered by guests from Europe and the US despite a growing number of Chinese and Indian holiday makers in Switzerland. (Archive picture) The director of Switzerland’s tourism marketing company has dismissed criticism that the country is overrun by Asian tourists. Martin Nydegger said concerns by the local population about too many tourists should be taken seriously. But the perception of...

A Pleasant Surprise You can probably imagine that I am convinced of the merits of seasonality. However, even I was surprised that an investment strategy based on seasonality is apparently leaving numerous far more popular strategies in the dust. And yet, this is exactly what a recent comprehensive scientific study asserts – a study that probably considers a longer time span than most: it examines up to 217 years of...

Swiss Franc The Euro has fallen by 0.03% at 1.1007 EUR/CHF and USD/CHF, July 22(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: What promises to be an eventful two weeks has begun quietly. The ECB, Fed, BOJ, and BOE will meet over the next fortnight. The central banks of Turkey and Russia meet this week and are expected to cut rates. The UK will have a new...

Three events that will capture the market’s attention next week: The consequences of the Japanese election, the first look at US Q1 GDP, and the ECB meeting. The central banks of Turkey and Russia also meet. Both are expected to cut interest rates, following rate cuts in the middle of last week by South Korea, Indonesia, and South Africa. Japan goes to the polls on July 21 to elect the upper chamber of the Diet. There...

Bilderberg, Gerzensee und „Franken-Rütli“ – das sind alles Geschwister im Geiste: undurchschaubar, informell, nicht greifbar, gegen aussen, eine Versammlung der Macht, mit dem Vorspuren von Entscheiden grösster wirtschaftlicher und politischer Tragweite. Das Volk bleibt aussen vor. Es wird aber am Schluss allfällige Konsequenzen tragen müssen. Solche geheimen Konferenzen passen nicht in eine moderne Demokratie. Schon...

Even the most distracted, fragmented tribe of the peasantry eventually notices that they’re not in the top 1%, or the top 0.1%. Let’s posit that America will confront a Great Crisis in the next decade. This is the presumption of The Fourth Turning, a 4-generational cycle of 80 years that correlates rather neatly with the Great Crises of the past: 1781 (Revolutionary War, constitutional crisis); 1861 (Civil War) and 1941...

Novartis only generated 2% of its revenue in Switzerland but paid 39% of its tax bill there. Switzerland stands to lose up to CHF10 billion ($10.2 billion) as a consequence of attempts by other countries to change how multinationals are taxed. Countries belonging to the G20 and OECDexternal link are pushing for changes in corporate taxation rules to capture a larger share of taxes of multinationals based in tax-friendly...