2021-06-21

Update June 21 2021: SNB intervening. Sight Deposits have risen by +1.1 bn CHF, this means that the SNB is intervening and buying Euros and Dollars.

2021-06-01

The collapse of Greensill Capital has been the biggest financial scandal of the year so far, having set off a massive public corruption scandal in the UK that has deeply embarrassed the ruling Conservative Party due to the close involvement of former PM David Cameron, who was on the Greensill.

2021-05-26

The decline in US rates and the doves at the ECB pushing back against the need to reduce bond purchases next month have seen European bond yields unwind most of this month’s gain. The inability of US shares to hold on to early gains yesterday did not deter the Asia Pacific and European equities from trading higher.

2021-05-20

Authored by Egon von Greyerz via GoldSwitzerland.com,“Everything is on fire” – Heraclitus (535-475 BC)What Heraclitus meant was that the world is in a constant state of flux.But the big problem in the next few years is that the world will experience a fire of a magnitude never seen before in history.I have in many articles and interviews pointed out how predictable events are (and people).

2021-05-13

It is as if the bond vigilantes were pushed too far. US inflation is accelerating more than expected, and it cannot all be attributed to the base effect, and the Federal Reserve, to many investors, is tone-deaf. With powerful fiscal stimulus, nominal growth above 10%, and the economy re-opening, albeit unevenly, does the monetary accelerator need to be fully engaged?

2021-05-11

It looks like the hiring (and retention) shortage isn’t just for rank-and-file minimum wage jobs.UBS has now said that, amidst historic competition and a "retention crisis" in the investment banking world (which we noted weeks ago), it is going to pay a one time $40,000 bonus to its global banking analysts when they are promoted.

2021-04-06

Literally moments ago we said that the Archegos portoflio was being sold off all day on fears of "stealth" prime broker deleveraging, as tens of millions of shares were yet to be accounted for.

2021-03-23

Ungeachtet der jüngsten Abschwächung des Frankens dürfte die Schweizerische Nationalbank (SNB) am Donnerstag bei ihrer vierteljährlichen geldpolitischen Lagebeurteilung an ihrem Leitzins von minus 0,75 Prozent festhalten, prognostizieren alle 35 von Reuters befragte Wirtschaftsexperten. Auch die Sichteinlagen von Banken bei der Notenbank ab einem gewissen Freibetrag dürften weiterhin mit einer Gebühr von 0,75 Prozent belastet werden.
"Die SNB dürfte es nicht eilig haben, ihre geldpolitische Haltung zu straffen, während sich die Wirtschaft vom Pandemie-Schock erholt", sagte GianLuigi Mandruzzato, Ökonom bei EFG Asset Management. Die Notenbank dürfte mit Signalen für eine Verschärfung auch zuwarten, um keinen Aufwärtsdruck auf den Franken zu provozieren. Mit einem ersten Zinsschritt in der