Monthly Archive: June 2022

Personalbestand in der Bankbranche nimmt weiter zu

2022-06-17

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2022-06-17

Die Zahl der bei Banken in der Schweiz beschäftigten Mitarbeitenden stieg im vergangenen Jahr gemäss der Bankenstatistik der SNB um 0,7 Prozent auf 90'577. Trotz anspruchsvollem Umfeld und der Pandemie-Situation ist das zum zweiten Mal in Folge ein leichter Anstieg.

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Unheeded warnings: Václav Klaus at the Marmara Forum

2022-06-17

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2022-06-17

This not the first time that Václav Klaus’ astute observations and experience-based predictions turn out to be shockingly accurate years later, and I’m pretty confident it will not be the last. Even before the examples that follow and that he clearly laid out in his address at the Marmara Forum, the former President of the Czech Republic has repeatedly proven to be quite prophetic in his assessment of the future. 

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The Inverted Yield Curve and Recession

2022-06-17

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2022-06-17

The “yield curve” refers to a graph showing the relationship between the maturity length of bonds—such as one month, three months, one year, five years, twenty years, etc.—plotted on the x axis, and the yield (or interest rate) plotted on the y axis.1

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Annual banking statistics for 2021

2022-06-17

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2022-06-17

The Swiss National Bank has today published data on the annual financial statements of banks in Switzerland for the 2021 financial year. For the first time, the published data also comprises bank office data (Domestic office perspective) in addition to the data from individual financial statements (Parent company perspective) and consolidated financial statements (Group perspective).

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Ep – 34 The BearLord: A Recession Cometh

2022-06-17

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2022-06-17

We welcome Travis Kimmel, AKA the Dollar Fatalist, the Wizard of Web1, the Crusher of Cryptocurrency dreams, and our favorite moniker, the illustrious BearLord, onto the Gold Exchange Podcast!

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The Great Reset: Turning Back the Clock on Civilization

2022-06-17

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2022-06-17

The covid-19 pandemic featured an unprecedented fusion of the interests of large and powerful corporations with the power of the state. Democratically elected politicians in many countries failed to represent the interests of their own citizens and uphold their own constitutions and charters of rights.

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Could Retail “Bagholders” Spark a Rally “Smart Money” Will Be Forced to Chase?

2022-06-17

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2022-06-17

There would be some deliciously karmic justice in the "dumb money" driving a rally that forced the "smart money" to cover their shorts and chase the rally that shouldn't even be happening.

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Bitcoin stabilisiert sich oberhalb von 20K

2022-06-16

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2022-06-16

Die Abwärtsbewegung des BTC-Preises wurde erst einmal gestoppt. Oberhalb von 20.000 US-Dollar kam es zur Stabilisierung des Kurses. Damit hat der Bitcoin dennoch im 10-Tages-Vergleich etwa 50 Prozent seines Wertes verloren. Allerdings kommt die Stabilisierung zu diesem Zeitpunkt überraschend. Bitcoin News: Bitcoin stabilisiert sich oberhalb von 20KIn den USA kündigten die Zentralbanken einen Anstieg der Zinsen an, den es in dieser Höhe zuletzt vor...

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Monetary Assessment Meeting, Introduction

2022-06-16

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2022-06-16

Global Equity Markets
I will begin my remarks with a review of developments on the financial markets over the past half-year. I would then like to discuss the lowering of the threshold factor mentioned by Thomas Jordan.

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Тhomas Jordan: Introductory remarks, news conference

2022-06-16

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2022-06-16

It is my pleasure to welcome you to the Swiss National Bank’s news conference. In my remarks, I will begin by explaining our monetary policy decision and our assessment of the economic situation. After that, Fritz Zurbrügg will present the key messages from this year’s Financial Stability Report. Andréa Maechler will then comment on the situation on the financial markets and the implementation of monetary policy. We will – as ever – be pleased to...

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Fritz Zurbrügg: Introductory remarks, news conference

2022-06-16

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2022-06-16

Fritz Zurbrugg
In my remarks today, I will present the key findings from the new Financial Stability Report, published this morning by the Swiss National Bank.

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SNB Monetary policy assessment of June 2022

2022-06-16

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2022-06-16

Conditional Inflation Forecast, June 2022
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Swiss lower economic growth forecasts due to war and inflation

2022-06-16

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2022-06-16

The Swiss Secretariat for Economic Affairs (SECO) has downgraded its economic growth forecast for 2022 to 2.6% due to the war in Ukraine and uncertainties in China.

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Bribe Money for Ukrainian Officials?

2022-06-16

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2022-06-16

In my blog post of May 18, 2022, I raised the possibility that the $40 billion aid package that Congress quickly approved for Ukraine was going to be used, at least in part, to pay multimillion dollar bribes to Ukrainian officials.

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Ukraine war forces Swiss business to make choices on neutrality

2022-06-16

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2022-06-16

Sanctions imposed on Russia have focused debate over the country’s long-cherished economic haven status. In the gleaming new Chipperfield extension of the Zurich Kunsthaus, all polished limestone and gold, is a room dedicated to expiating the moral debits of economic neutrality. The Bührle collection is one of the greatest privately-amassed troves of modern European art, and the pride of the new building.

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Even When There Is Inflation, the Fed STILL Fights Falling Prices

2022-06-16

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2022-06-16

Under any remotely sound money regime the aftermath of war and/or pandemic is highly likely to feature a sharp decline in the prices of goods and services on average. Even under unsound money regimes there are powerful forces operating towards lower prices once the war/pandemic recedes. Strong injections of monetary inflation, however, can overpower them.

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Curve Inversion 101: US CPI Politics Up Front, China PPI Down(ing) The Back

2022-06-16

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2022-06-16

While the world fixated on the US CPI, it was other “inflation” data from across the Pacific that is telling the real economic story. Having conflated the former with a red-hot economy, the fact American consumer prices aren’t tied to the actual economic situation has been lost in the shuffle of the FOMC’s hawkishness, with markets obliged to price wrong-way Jay.

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Is a 0.3% Miss on Headline CPI Really Worth a 77 bp Rise in the December Fed Funds Yield?

2022-06-15

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2022-06-15

Overview: Better than expected Chinese data and an unscheduled ECB meeting are the highlights ahead of the North American session that features the May US retail sales report and other high frequency data before the outcome of the FOMC meeting.

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Klimamassnahmen: Verletzung elementarer Rechtsprinzipien

2022-06-15

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2022-06-15

Die Klimapolitik basiert nicht auf solider Wissenschaft und bricht mit elementaren juristischen Grundsätzen. Weltweit greifen Staaten immer massiver in Freiheitsrechte ein, um den Klimawandel zu bekämpfen.

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Swiss Producer and Import Price Index in May 2022: +6.9 percent YoY, +0.9 percent MoM

2022-06-15

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2022-06-15

Switzerland Producer Price Index (PPI) YoY, May 2022
The Producer and Import Price Index rose in May 2022 by 0.9% compared with the previous month, reaching 109.4 points (December 2020 = 100). In particular, petroleum products, petroleum and natural gas as well as chemical products saw higher prices. Compared with May 2021, the price level of the whole range of domestic and imported products rose by 6.9%.

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