Monthly Archive: June 2021

FX Daily, June 15: Commodities Ease though Oil remains Firm

2021-06-15

by

2021-06-15

The new record high in the S&P 500 and the NASDAQ's sixth gain in seven sessions may have helped lift Asia Pacific markets today. Only China and Hong Kong did not participate. MSCI's regional index rose for its fourth consecutive session. Europe's Dow Jones Stoxx 600 is moving higher for the eighth session in a row. 

Read More »

SWISS airline job cuts less severe than expected

2021-06-15

by

2021-06-15

Swiss International Air Lines will make fewer pandemic-related job cuts than feared following consultations with staff and trade unions. On Tuesday, SWISS said the number of intended layoffs has been reduced to 550 from the 780 announced last month. Of the 550 affected jobs, 58 employees have accepted a downgrade from their current positions so that they will remain with the company.

Read More »

Weekly Market Pulse (VIDEO)

2021-06-15

by

2021-06-15

Weekly Market Pulse with Alhambra Investments, interview with Joe Calhoun.

Read More »

The G7’s Reckless Commitment To Mounting Debt

2021-06-15

by

2021-06-15

Historically, meetings of the largest economies in the world have been essential to reach essential agreements that would incentivize prosperity and growth. This was not the case this time. The G7 meeting agreements were light on detailed economic decisions, except on the most damaging of them all. A minimum global corporate tax

Read More »

FX Daily, June 14: Dollar Becalmed as Markets Wait for US Leadership

2021-06-14

by

2021-06-14

The short squeeze that lifted the US dollar ahead of the weekend has seen limited follow-through buying, and instead a consolidative tone emerged. Europe is searching for direction and perhaps waiting for US leadership after a quiet Asia Pacific session, with several centers closed for holiday today (China, Hong Kong, Taiwan, and Australia).

Read More »

Swiss Producer and Import Price Index in May 2021: +3.2 percent YoY, +0.8 percent MoM

2021-06-14

by

2021-06-14

Switzerland Producer Price Index (PPI) YoY, May 2021
The Producer and Import Price Index increased in May 2021 by 0.8% compared with the previous month, reaching 102.4 points (December 2020 = 100). In particular, higher prices were seen for chemical products, rubber and plastic products, basic metals, semi-finished metal products and pharmaceutical products

Read More »

Seven Things Nobody Talks About that Will Eventually Matter–A Lot

2021-06-14

by

2021-06-14

Diminishing Returns
Perhaps it shouldn't surprise us that everything that will eventually matter is ignored until it does matter--but by then it's too late. Here's a short list to start the discussion: 1. The Federal Reserve has transformed the American populace into a nation of dismayingly over-confident gamblers.

Read More »

Pesticide-free farming: can the vision seduce Swiss voters?

2021-06-14

by

2021-06-14

Voters decide Sunday on two separate initiatives aiming to ban or reduce the use of synthetic pesticides in the country. Polls suggest the proposals are on the back foot. Is Switzerland about to become an organic farming pioneer?

Read More »

Bitcoin Upgraded from Vacuous Child to Rebellious Adult

2021-06-14

by

2021-06-14

Child Bitcoin
As a naughty young child bitcoin was viewed as too vacuous and devoid of prospects to warrant serious attention. At the grand old age of 22, the cryptocurrency is poised to be given a seat at the high table by the Bank for International Settlements (BIS).

Read More »

Switzerland-EU: a Complicated Relationship that puts Swiss Research at Risk

2021-06-13

by

2021-06-13

They break up, they get back together, and then they break up again. The rift between Bern and Brussels over the framework agreement is causing frustration among Swiss researchers who depend on EU funding for their work. Universities, companies and start-ups fear that science and research will become "collateral damage" of a negotiation gone wrong.

Read More »

Kamala Harris and the Same Old Immigration Nonsense

2021-06-12

by

2021-06-12

Vice-President Kamala Harris got jeered in Guatemala, and deservedly so, after telling the Guatemalan people, “Do not come. The United States will continue to enforce our laws and secure our border.”  At the same time, the Biden administration is promising $4 billion in foreign aid to the Guatemalan government.

Read More »

Switzerland plans subsidies to offset G7 corporate tax plan

2021-06-12

by

2021-06-12

Swiss-based multinationals such as commodities trader Glencore will receive subsidies and other incentives under plans Switzerland is drawing up to maintain its competitive tax rates, even as the country prepares to sign-up to the G7’s new plan for a global minimum tax on big businesses.

Read More »

FX Daily, June 11: US Yields Stabilize After Falling to Three-Month Lows

2021-06-11

by

2021-06-11

The 10-year US Treasury yield steadied after reaching a three-month low near 1.43%, despite the US CPI rising more than expected to 5% year-over-year. On the week, the decline of around a dozen basis points would be the largest in a year. Australia, New Zealand, and Italy benchmark yields have seen a bigger decline this week.

Read More »

Aktualisierte Sanktionsmeldung

2021-06-11

by

2021-06-11

Am 10. Juni 2021 hat das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF die Liste der in diesem Kontext sanktionierten Personen, Unternehmen und Organisationen geändert. Die Änderung ist in der Schweiz direkt anwendbar. Das WBF hat daher die für die Schweiz massgebliche Sanktionsdatenbank SESAM (SECO Sanctions Management) angepasst und die Anpassung auf seiner Internetseite publiziert.

Read More »

AntChain Inks Deal With UEFA EURO to Be Its Official Global Blockchain Partner

2021-06-11

by

2021-06-11

UEFA and AntChain, the blockchain business of Ant Group, announced a five-year global partnership around blockchain technologies and to jointly explore how blockchain technology can be used to further the digital transformation of football industry and improve the experiences of fans around the world.

Read More »

FX Daily, June 10: ECB Meeting and US CPI: Transitory Impact

2021-06-10

by

2021-06-10

The ECB meeting and the US May CPI report is at hand. The US dollar is consolidating at a higher level against most of the major currencies. Softer than expected, inflation readings are weighing on the Scandis, which are bearing the brunt. The US 10-year yield closed below 1.50% for the first time in three months yesterday, and this may have helped underpin the Japanese yen.

Read More »

Child Labour rises for first time in two decades 

2021-06-10

by

2021-06-10

The world has witnessed the first rise in child labour in 20 years and the coronavirus crisis threatens to push millions more minors into the same fate, the United Nations said on Thursday. Swiss multinationals from food giant Nestlé to mining titans Glencore and Trafigura have struggled to eradicate child labour from their supply chains and the communities where they work.

Read More »

Swiss Unemployment Continues to Fall in May

2021-06-10

by

2021-06-10

By the end of May 2021, the percentage of Switzerland’s workforce registered as out of work had fallen to 3.1%, down from 3.3% in April 2021. The figures are based on those registered as unemployed at regional employment centres and exclude many of those that have been out of for more than two years and have exhausted their rights to collect unemployment benefits.

Read More »

The Inflation Emotion(s)

2021-06-10

by

2021-06-10

The Real GDP Problem, Jan 1988 - 2021
Inflation is more than just any old touchy subject in an age overflowing with crude, visceral debates up and down the spectrum reaching into every corner of life. It is about life itself, and not just quality. When the prices of the goods (or services) you absolutely depend upon go up, your entire world becomes that much more difficult.

Read More »

Why Monetary “Stimulus” Won’t Prevent an Economic Bust

2021-06-10

by

2021-06-10

U.S. CPI YoY, 2000 - 2021
The increase in the growth rate of the Consumer Price Index (CPI) has fueled concerns that if the rising trend were to continue the Fed is likely to tighten its interest rate stance. Observe that the yearly growth rate in the CPI climbed to 4.2 percent in April from 2.6 percent in March and 0.3 percent in April 2020.

Read More »