Tag Archives: Switzerland

Ever had to testify in a trial involving your father’s dealings in corrupt activities, and as a result had your tax records leaked for all of the public to see? Sergio Machado, the ex-head of Credit Suisse’s Brazil fixed-income business has, and now everyone knows how much he made in 2015. Sergio’s father, who goes by the same name, is a former Brazilian politician who went on to head the state run oil company...

Resentment toward the EU hit a new high yesterday when the upper house of the Swiss parliament on Wednesday followed in the footsteps of Iceland, and voted to invalidate its 1992 application to join the European Union, backing an earlier decision by the lower house. The vote comes just a week before Britain decides whether to leave the EU in a referendum. Twenty-seven members of the upper house, the Council of States,...

As the “deflationary supernova” sweeps across the world, dragging bond yields to zero-and-beyond, even the almighty omniscent Federal Reserve has been forced to capitulate as the ‘cheapness’ of Treasury bonds lures the world’s yield-hunters dragging it ever closer to the negative rate realities of Switzerland, Japan, and Germany. As rate-hike odds collapse, along with The Fed’s credibility, so investors are...

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...

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...

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...

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...

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...

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...

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...