Tag Archives: newsletter

If the world’s economies still need central bank life support to survive, they aren’t healthy–they’re barely clinging to life. The “recovery”/Bull Market is in its 10th year, and yet central banks are still tiptoeing around as if the tiniest misstep will cause the whole shebang to shatter: what are they so afraid of? The cognitive dissonance / crazy-making is off the charts: On the one hand, central banks are still...

  Maurice Jackson Speaks with Jayant Bhandari About Emerging Market Currencies, the Trade War, US Foreign Policy and More Maurice Jackson of Proven & Probable has recently conducted a new interview with our friend and occasional contributor to this site, Jayant Bhandari, who is inter alia the host of the annual Capitalism and Morality seminar. Maurice Jackson (left) and Jayant Bhandari (right) A wide range of...

The Swiss economy once again recorded dynamic growth in the 2nd quarter of 2018. GDP (+0.7%) expanded at an above-average rate for the fifth quarter in a row. This expansion was largely supported by manufacturing, which has been experiencing a remarkable upturn since spring of 2017. Exports of goods increased accordingly. Switzerland’s GDP grew by 0.7% in the 2nd quarter of 2018, after 1.0% (revised) in the previous...

Swiss Franc The Euro has fallen by 0.21% at 1.1276 EUR/CHF and USD/CHF, September 06(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The euro set a new high for the week in Asia earlier today near $1.1660. It subsequently was sold off to $1.1615 before rebounding. There is a 1.6 bln euro option struck at $1.16 that will be cut today. That it remains firm is impressive given...

Swiss Franc The Euro has risen by 0.20% at 1.1305. EUR/CHF and USD/CHF, September 05(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The dollar is posting gains against most of the emerging market and major currencies. The MSCI Emerging Markets Index is off 1.6% and extending the drop to a sixth consecutive session. Indonesia’s bourse saw the largest decline (~3.75%) in the...

Currencies don’t melt down randomly. This is only the first stage of a complete re-ordering of the global financial system. Take a look at the Shanghai Stock Market (China) and tell me what you see: Shanghai Stock Exchange Composite Index - Click to enlarge A complete meltdown, right? More specifically, a four-month battle to cling to the key technical support of the 200-week moving average (the red line). Once...

- Click to enlarge I had the privilege of being on the Bloomberg set with Tom Keene and Francine Lacqua earlier today. Lakshman Achuthan, co-founder of ECRI also joined us for the discussion. This 6.5 min video clip captures the essence of the discussion. The US dollar was rallying against all the major and most EM currencies. The second consecutive quarterly economic contraction in South Africa pushed the rand...

Neuchâtel, 4 September 2018 (FSO) – The consumer price index (CPI) remained stable in August 2018 compared with the previous month, remaining at 101.8 points (December 2015 = 100). Inflation was 1.2% compared with the same month of the previous year. These are the results from the Federal Statistical Office (FSO). The stability of the index compared with the previous month is the result of opposing trends that...

The president of pharmaceutical giant Novartis has announced job cuts in an interview with Swiss newspaper NZZ am Sonntag. Jörg Reinhardt said the Basel-based company wants to streamline its production sites and administration worldwide. - Click to enlarge The president of pharmaceutical giant Novartis has announced job cuts in an interview with Swiss newspaper NZZ am Sonntag. Jörg Reinhardt said the Basel-based...

Swiss Franc The Euro has fallen by 0.01% at 1.1263. EUR/CHF and USD/CHF, September 04(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is rising against all the major and emerging market currencies today. The signals from the White House suggest strong pressure will be exerted on Canada to sign on to NAFTA 2.0 or risk losing part of its auto sector, which of...