Tag Archives: newslettersent

Summary: The relationship between stocks and bonds does not appear to have changed much. It is difficult to eyeball correlations. Question the meaning of a chart that has two time series and two scales and. This Great Graphic comes from Bloomberg. It is a more complicated look at the relationship between the US stocks and bonds. In particular, we are looking at the S&P 500 and the 10-year US generic...

Swiss Centers China is a non-profit organisation aimed at lowering market entry barriers of Swiss companies in Asia. (GFAC) - Click to enlarge According to a survey, 72% of Swiss business leaders in China expect “higher” or “substantially higher” sales of goods from Switzerland to China and Hong Kong in 2018 than in 2017, when exports reached a record CHF16.7 billion ($17.9 billion). Just 5% of business...

Economic Reports Economic Growth & Income Personal income for December was better than expected at up 0.4% on the month and 4.11% year over year. Wages and salaries were up 0.5%. Unfortunately, that rate of rise is not even up to the lower end of the range we’ve seen in past expansions when 5% income growth was a precursor to recession. Still, it is, sadly, about average for this expansion.  Two items in this...

- Click to enlarge The Swiss National Bank (SNB) and the Bank of Korea (BOK) will enter into a bilateral swap agreement. The agreement will be signed on 20 February 2018 in Zurich by the Chairman of the SNB Governing Board, Thomas Jordan, and the Governor of the BOK, Juyeol Lee. The swap agreement enables Korean won and Swiss francs to be purchased and repurchased between the two central banks, up to a limit of KRW...

According to the Swiss Federal Statistical Office (FSO), the headline consumer price index (CPI) inflation eased to 0.7% y-o-y in January from 0.8% y-o-y in December, in line with consensus and our own expectations. Core inflation (CPI excluding food, beverages, tobacco, seasonal products, energy and fuels) also eased, from 0.7 % y-o-y in December to 0.5% y-o-y in January (see Chart 1), back to the level of October...

Swiss Franc The Euro has fallen by 0.09% to 1.1531 CHF. EUR/CHF and USD/CHF, February 13(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates There are two important developments today. First, the recovery in the global equity markets is being challenged. Second, the yen has strengthened across the board, and is now at its best levels against the dollar since last September’s...

Greece's government says it has evidence that senior politicians from the previous administration were involved in a bribery case in which Swiss drugmaker Novartis is accused of making illegal payments to fix prices and increase market access (Keystone) - Click to enlarge Switzerland’s Federal Office of Justice has confirmed it has received two requests for legal assistance from Greece and the United States...

A PostBus climbs the Altdorf-Isenthal road in canton Uri (Keystone) - Click to enlarge The head of Swiss Post, Susanne Ruoff, has refused to step down for errors she admits were made at the PostBus subsidiary company regarding the manipulation of accounts to claim tens of millions of francs worth of federal and cantonal subsidies. “I neither lied nor did anything wrong,” Ruoff declared in an interview on...

The consumer price index (CPI) fell by 0.1% in January 2018 compared with the previous month, reaching 100.7 points (December 2015=100). Inflation was 0.7% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO). Switzerland Consumer Price Index (CPI) YoY, Jan 2018(see more posts on Switzerland Consumer Price Index, ) Source: Investing.com - Click to...

Swiss Franc The Euro has fallen by 0.11% to 1.1505 CHF. EUR/CHf and USD/CHF, February 12(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The most important development today has been the stability in the equity markets after last week’s meltdown. The recovery from new lows in the US before the weekend set the tone for today’s moves. Tokyo markets were on holiday, and the...