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Tag Archives: Switzerland

JPMorgan CIO Crushes Cameron’s Scaremongery: Brexit “Hardly The Stuff Of Economic Calamity”

First The Telegraph, then The Sun, and today The Spectator all came out on the “Leave” side of the Brexit debate. However, perhaps even more shocking to the establishment is the CIO of a major bank’s asset management arm dismissing the apparent carnage that Cameron, Obama, and Osborne have declared imminent, warning that, “many articles on the Brexit vote overstate its risks and consequences.” As JPM’s Michael...

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IIF Chief Warns “Brexit Bigger Threat To Global Economy Than Lehman”

As Brexit appears to gathering pace among British voters, Bloomberg Briefs interviews Hung Tan, executive managing director at the Institute of International Finance in Washington, DC., to understand the global impact of a decision by Britain to leave The EU…    Q: What would happen if Britain voted to leave the EU?  A: It is not Lehman in the short term in terms of markets being in a panic or chaotic mood, because the...

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China and Japan Chart Update

A chart-up from China and Japan. Growth of Chinese industrial production, retail sales, fixed asset investment is at lows not seen since the Asian financial crisis. The Yuan is falling. Economic data from Japan is not a lot better. Economic Data from China Then Chinese data largely disappointed. A “meet” in Industrial Production – hovering at multi-year lows… *CHINA MAY INDUSTRIAL OUTPUT RISES 6.0% FROM YEAR EARLIER...

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Central Banks & Governments and their gold coin holdings

Within the world of central bank and government gold reserves, there is often an assumption that these gold holdings consist entirely of gold bullion bars. While this is true in some cases, it is not the fully story because many central banks and governments, such as the US, France, Italy, Switzerland, the UK and Venezuela, all hold an element of gold bullion coins as part of their official monetary gold reserves. These...

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Faber: “Switzerland is doing much better than any other country in Europe. So maybe Britain would do the same?”

The European Union is an “empire that is hugely bureaucratic,” warns Marc Faber, telling CNBC that he thinks that “a Brexit would be bullish for global economic growth,” because “it would give other countries incentive to leave the badly organized EU.” The Gloom, Boom & Doom-er explained that Brexit is a risk Britain should be willing to take, and that it would not be a disaster, “on the contrary, it would be the...

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Chart up-date: Stocks, Bonds, Copper, Bonds

Well that escalated quickly…All-time highs within reach… everything is awesome…wait what… Quite a week: Gold +5.25% in last 2 weeks – best run in 4 months Silver +5.65% this week – best week since May 2015 Copper -4% this week to lowest weekly close since January Sterling -2.5% in last 2 weeks – worst drop in 3 months US Dollar Index +0.6% – up 7 of last 9 weeks 30Y Yields -21bps in last 8 days – best rally in 4...

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Chart up-date: Stocks, Bonds, Copper, Gold

Well that escalated quickly…All-time highs within reach… everything is awesome…wait what… Quite a week: Gold +5.25% in last 2 weeks – best run in 4 months Silver +5.65% this week – best week since May 2015 Copper -4% this week to lowest weekly close since January Sterling -2.5% in last 2 weeks – worst drop in 3 months US Dollar Index +0.6% – up 7 of last 9 weeks 30Y Yields -21bps in last 8 days – best rally in 4...

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With Daily Record Lows: Chart of German Bund Yields Since 1977

The German Bund chart is very important for us, because the Swiss franc is negatively correlated to German government bond yields. The lower Bund yields, the stronger the Swiss Franc. When European governments and the ECB are ready to pay higher interest rates, then CHF depreciates. 10-year Gilt yield, Close on 06/12 Whether it is due to rising, or receding, fears of Brexit, earlier today UK Gilts joined the global...

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Need Safe havens: CHF or Gold?

A warped manifestation of the fear and greed trade-off that used to characterize investor behavior has developed, according to Bloomberg’s Richard Breslow. Asset managers are exhibiting the manic depressive drive to simultaneously throw caution to the wind, ignoring all risk metrics while plaintively bemoaning the lack of safe havens. S&P 500, 2016 EPS Expectations Fear and greed was a continuum, allowing for an...

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Global Peace Index: Only 10 countries not at war (among them Switzerland)

Authored by Adam Withnall, originally posted at The Independent, The world is becoming a more dangerous place and there are now just 10 countries which can be considered completely free from conflict, according to authors of the 10th annual Global Peace Index. The worsening conflict in the Middle East, the lack of a solution to the refugee crisis and an increase in deaths from major terrorist incidents have all...

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