Monthly Archive: May 2025

Assessing Credit Spreads After The USA Downgrade

2025-05-28

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2025-05-28

A reader of our Daily Commentary asked how we measure corporate credit spreads in light of the Moody's downgrade of the USA credit rating. Specifically, "Without having a AAA benchmark to calculate the credit spread of corporate bonds against, what other measure can help me assessing stress in the corporate bond market." First its important …

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Japan’s bond selloff is a warning to the world

2025-05-28

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2025-05-28

Japan is becoming a case study in what happens when investors lose patience with massive deficits.

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Pope Leo appeals for Gaza ceasefire, laments deaths of children

2025-05-28

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2025-05-28

Pope Leo Wednesday: “In Gaza, cries rise to the heavens from parents holding the lifeless bodies of children.”

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Apartment Metrics Worsen as the “Fed-ministration” Readies More Easy Money

2025-05-28

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2025-05-28

Thanks to massive federal intervention into the housing markets for more than 20 years, the housing crisis is worse than ever. The outlook for multi-family housing is especially bad with a bleak future.

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The Politics of Guilt

2025-05-27

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2025-05-27

From Reconstruction to George Floyd, the left‘s guilt industry has run at full speed. As Murray Rothbard wrote, it is time to stand up to those that use guilt as a social weapon.

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The Politics of Guilt

2025-05-27

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2025-05-27

From Reconstruction to George Floyd, the left‘s guilt industry has run at full speed. As Murray Rothbard wrote, it is time to stand up to those that use guilt as a social weapon.

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The American Pravda Sues the Trump Administration

2025-05-27

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2025-05-27

State-funded media has been a hallmark of the Soviet Union and of all other oppressive, totalitarian regimes in history.

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The One Bloated Brobdingnagian Bill

2025-05-27

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2025-05-27

President Trump's so-called “One Big, Beautiful Bill” is more of the same: big and bloated. It adds billions to the federal deficit and does nothing to deal with the government‘s ruinous debt. Naturally, the Republicans support it.

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JFK and the Burden of Proof

2025-05-27

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2025-05-27

We know what happened on November 22, 1963, at Dealey Plaza in Dallas, but there is a lot about that terrible day we don't know.

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JFK and the Burden of Proof

2025-05-27

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2025-05-27

We know what happened on November 22, 1963, at Dealey Plaza in Dallas, but there is a lot about that terrible day we don't know. But we also know that President Kennedy challenged the National Security State. Did it cost him his life?

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Swiss voters to decide again on imposing ethical behaviour on companies

2025-05-27

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2025-05-27

A second Swiss "Responsible Business" initiative has attracted 287,000 signatures, nearly three times the 100,000 backers needed to trigger a nationwide vote. +Get the most important news from Switzerland in your inbox The initiative calls for Swiss corporations and their subsidiaries to respect human rights and environmental protection at home and abroad and be liable …

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Japan Sparks Turn Around Tuesday’s Dollar Short-Covering

2025-05-27

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2025-05-27

Overview: Speculation that Japan will take measures to stem the rout in the government bond market has helped spur a short-covering bounce in the dollar after finished last week poorly and sold off yesterday. There has been a sharp drop in Japanese long-term bond yields, and although the dollar is higher against all the G10 …

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Swiss exports weighed down by US tariffs

2025-05-27

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2025-05-27

Exports, the backbone of the Swiss economy, fell in April. Trade with the United States, which has introduced a range of tariffs, posted a double-digit fall. +Get the most important news from Switzerland in your inbox In seasonally adjusted terms, exports fell by 9.2% and imports by 15.6%, according to the Federal Office of Customs …

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How to Balance Growth and Safety in Your Retirement Portfolio

2025-05-27

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2025-05-27

As retirement approaches—or begins—investors often find themselves at a crossroads: How can you preserve the wealth you’ve accumulated while still ensuring it continues to grow? Striking the right balance between growth and safety in your retirement portfolio is one of the most important financial decisions you'll make. The key is understanding the trade-offs and creating …

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Former US CFTC Chair Chris Giancarlo Joins Sygnum as Senior Policy Adviser

2025-05-27

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2025-05-27

Sygnum, a digital asset banking group, has announced the appointment of J. Christopher Giancarlo, former Chairman of the United States Commodity Futures Trading Commission (CFTC), as its Senior Policy Adviser. During his time at the CFTC, Giancarlo was known for his support of open markets, innovation, and balanced regulatory approaches. His advocacy for cryptocurrency before the US Congress earned him the informal title of “crypto dad.” He remains...

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The EU And Apple Hit With Tariffs

2025-05-27

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2025-05-27

After a bout of relative market tranquility, investors were rudely awakened Friday with a barrage of new tariff actions targeting the EU and Apple. Via Truth Social, Trump recommended a 50% tariff on European Union imports starting June 1, 2025, and a 25% tariff on all iPhones made outside the US. Regarding the EU, the … Continue reading...

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Swiss chemical group Clariant faces fresh price fixing probe

2025-05-27

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2025-05-27

The Swiss chemicals group Clariant is facing another claim for damages in connection with alleged price fixing. +Get the most important news from Switzerland in your inbox The Austrian petrochemicals group OMV has filed a lawsuit against a total of four companies, including Clariant. OMV is claiming damages totalling around €1 billion in a court …

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David Hume’s Insights Explain America’s Economic Decline

2025-05-27

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2025-05-27

The Trump White House has enacted tariffs in the belief that other countries are “cheating” by enacting tariffs against US goods and “manipulating” their currencies. However, with the US dollar being the world's reserve currency, the US has engaged in dollar manipulation through inflation.

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Truth or Consequences

2025-05-27

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2025-05-27

The transatlantic slave trade from Africa is a well-known chapter in the history of slavery in the Western Hemisphere, but much lesser known is the enslavement of Native Americans. Many of them were shipped to plantations in the Caribbean where they were worked to death.

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Don’t Be A Panican, But Question Government Shenanigans

2025-05-27

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2025-05-27

Ours in an age when people panic, sometimes for good reasons but often for bad. Governments benefit from panicked citizenry, which is why we always should question those political decisions that can turn our lives upside down.

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