What is New?
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FX Daily, February 18: Dollar Drifts Lower
12 hours agoOverview: In quiet turnover, the US dollar slipped lower against most of the major currencies to start the new week. The news stream is light and the US markets are closed today. The MSCI Asia Pacific Index was up five of the past six weeks and extended its gains today. Nearly all the equity markets in the region rose but India.
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FX Weekly Preview: Drivers, While Marking Time
17 hours ago -
Wabco car systems manufacturer moves HQ to Switzerland
18 hours ago -
Weekly SNB Sight Deposits and Speculative Positions
19 hours ago -
Retail Sales Landmine
22 hours ago -
BLS train group to shelve 170 jobs by 2023
2 days ago -
What Happens When More QE Fails to Reverse the Recession?
2 days ago
SNB and Central Banks
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Weekly SNB Sight Deposits and Speculative Positions
19 hours agoThe SNB Intervened only a little during the Turkish Lira crisis in August 2018, however the Swiss Franc strongly appreciated.
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Mark Carney Steadies GBP/CHF Rates on Global Viewpoint
6 days ago -
Chaos-Politik der SNB mobilisiert SVP und SP: Milliarden für Vorsorge
15 days ago -
GBPCHF rates hit near 3-month highs
24 days ago -
Folgt nun der umgekehrte Frankenschock?
24 days ago -
SNB Grants Fintechs Access to SIC
2019-01-16 -
Will the SNB ever make profits again?
2019-01-10
Swiss & European Macro
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Euro area : What if car tariffs lie ahead ?
3 days agoNew US auto tariffs may impact the economy significantly more than the previous tariffs on steel and aluminium.Among the key risks for our euro area outlook, the threat of US auto tariffs is of major importance.The US Commerce Department’s investigation on national security threats posed by auto imports is due to be concluded on 17 February.
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Swiss Labour Force Survey in 4th quarter 2018: 0.8percent increase in number of employed persons; unemployment rate based on ILO definition at 4.6percent
4 days ago -
Swiss Producer and Import Price Index in January 2019: -0.5 percent YoY, -0.7 percent MoM
5 days ago -
Swiss Consumer Price Index in January 2019: +0.6 percent YoY, -0.3 percent MoM
8 days ago -
Swiss Retail Sales, December 2018: -0.1 percent Nominal and -0.3 percent Real
18 days ago -
Exports save the day for French GDP growth
19 days ago -
Swiss Watchmakers Celebrate a Vintage Year
20 days ago
Swiss Markets & News
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Wabco car systems manufacturer moves HQ to Switzerland
18 hours agoCar systems manufacturer Wabco Automotive has opted to move its global headquarters from Brussels to the Swiss capital, Bern. The company has plans to set up a competence centre in autonomous driving in collaboration with Swiss universities. “Switzerland is world-renowned for providing a highly favorable environment for breakthrough innovations and offers many distinct advantages for corporate headquarters,” said chairman and CEO Jacques...
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BLS train group to shelve 170 jobs by 2023
2 days ago -
Swiss unemployment rate rises
3 days ago -
Pressure mounts on Swiss commodity traders in Brazil corruption probe
4 days ago -
Switzerland’s federal surplus even larger than expected
5 days ago -
Scandals hurt Swiss Business Reputation in 2018
6 days ago -
Switzerland investigating Venezuela-linked corruption
7 days ago
FX Trends
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FX Daily, February 18: Dollar Drifts Lower
12 hours agoOverview: In quiet turnover, the US dollar slipped lower against most of the major currencies to start the new week. The news stream is light and the US markets are closed today. The MSCI Asia Pacific Index was up five of the past six weeks and extended its gains today. Nearly all the equity markets in the region rose but India.
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FX Weekly Preview: Drivers, While Marking Time
17 hours ago -
FX Daily, February 15: Equities Stall While Greenback Remains Firm
3 days ago -
Socialism, Keynesianism, and Fascism
4 days ago -
FX Daily, February 13: QT is not the Opposite of QE
5 days ago -
FX Daily, February 12: Dollar Buying Pressure Subsides
7 days ago -
FX Daily, February 11: Dollar Starts New Week on Firm Note
7 days ago
Global Macro & Emerging Markets
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Retail Sales Landmine
22 hours agoIgnore Black Friday and Cyber Monday. Those are merely an appetizer, an intentional preamble to whet the appetite of hungry consumers looking to splurge. The real action comes in December. People look, some buy, after Thanksgiving, but as anyone counts down the actual twelve days of Christmas and celebrates the eight crazy nights of Hanukkah that’s when the retail industry makes its bank.
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What Happens When More QE Fails to Reverse the Recession?
2 days ago -
Inflation Falls Again, Dot-com-like
3 days ago -
What Caused the Recession of 2019-2021?
4 days ago -
The Corporate Lemmings Who Rushed into Mobile/Social Media Ads Are Running off the Cliff
5 days ago -
China: Harbinger of Global Economic Decline
6 days ago -
We’re Overdue for a Sell-Everything/No-Fed-Rescue Recession
7 days ago
Gold,Bitcoin,Austrian Economics
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Gold Prices In Pounds and Euros Gain More as Economic Growth Falters in the UK and EU
4 days agoGold prices in pounds and euros as economic growth falters in UK and EU. Euro & pound gold tests multi year resistance; likely to surpass due to strong demand. Improved risk appetite sees stocks rise which may be hampering stronger gains for gold.
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U.S. Congressman Introduces Bill to Remove Income Taxation from Gold and Silver
5 days ago -
Quantum Metal Lease #1 (gold)
6 days ago -
Large Gold Bullion Shipment Moves From London to Dublin Gold Vaults As Brexit Concerns Deepen
7 days ago -
What They Don’t Want You to Know about Prices, Report 10 Feb
7 days ago -
Monetary Metals Leases Gold to Quantum Metal
10 days ago -
Congressman Demands CFTC Explain Its Failure to Find Silver Market Manipulation Where DOJ Did
13 days ago
Markets
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LIBOR Was Expected To Drop. It Dropped. What Might This Mean?
11 days agoEveryone hates LIBOR, until it does something interesting. It used to be the most boring interest rate in the world. When it was that, it was also the most important. Though it followed along federal funds this was only because of the arb between onshore (NYC) and offshore (mainly London, sometimes Caymans) conducted by banks between themselves and their subs (whichever was located where).
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Insane Repo Reminds Us
2019-01-04 -
The Bear Market Hook
2019-01-03 -
A Global Dearth of Liquidity
2018-12-08 -
Swiss stock exchange could lose EU access in January
2018-11-30 -
Gold and Silver Hold Firm as Stocks and Oil Lower in to US Holiday Weekend
2018-11-26 -
The Intolerable Scourge of Fake Capitalism
2018-11-20
CHF End of Peg
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Impressive Swiss Recovery After SNB Peg Removal
2015-06-28Retail data shows that the SNB peg removal in January 2015 as early as April 2015 with minimal adverse impact on the economy. Trade surplus showed that Switzerland had fully recovered its lost trade surplus in May and expectations crossed an important threshold into positive territory in June. CHF strengthened since May end, as the market caught wind of the Swiss recovery, and the Grexit would further strengthen the CHF if it were to occur.
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Q1/2015: Swiss Real GDP Rises by 15 percent … in Euro Terms
2015-06-18 -
Is the Swiss Franc Really so Expensive or is Swiss Consumption anemic?
2015-02-21 -
End of EUR/CHF Peg
2015-02-21 -
Colin Lloyd on the end of the EUR CHF peg
2015-02-06 -
Why did the Swiss franc spike? Lack of Capital Outflows
2015-01-28 -
What Caused The Swiss Financial Tsunami? Three Reasons, One Trigger, One Chain Reaction
2015-01-20
The History of the Swiss Franc
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Volckers Attack on Stagflation
2014-06-22In this chapter we describe how Volcker managed to defeat stagflation; he applied the monetarist models that had been applied successfully in Switzerland and Germany. Thanks to this effort, the dollar stopped its secular decline.
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Swiss Franc History: The long-term view and the comparison with gold
2014-06-22 -
Swiss Franc History: Volcker Shock, Oil Glut and the Breakdown of Gold and Emerging Markets
2014-06-22 -
Swiss Franc History, 1970s: Due to US Stagflation CHF Strengthens Massively
2014-06-22 -
Swiss Franc History: Volcker’s defeat of inflation strengthens dollar, weakens Swiss franc
2014-06-22 -
Swiss Franc History, 2012: CHF becomes a “safe” Risk-On Currency
2013-06-22 -
The Secret History Of The Banking Crisis
2017-08-14
Economic Theory
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Richard Koo´s misleading take on the great recession: The final chapter – a guest post by Mark Sadowski
2015-12-08
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Irvin Fisher’s Deflationary Spiral
2013-01-11 -
7b) Major Schools of Economics
2012-12-30 -
How Long Will the U.S. Recovery Last? A Reminder: The False Japanese Recovery in 1998/1999
2014-02-15 -
The Wealth Effect: Rising House Prices Sustain Spending
2012-06-21 -
7d) Richard Koo’s and other Sector Balances
2014-05-18 -
Explaining Richard Koo to Paul Krugman, to Austrian Economists and the SNB
2013-06-24
Richard Koo and Sector Balances
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Weak Yen, Is it Really a Currency War?
2014-11-04Some journalists, like Ambrose Evans-Pritchard of the U.K.'s Telegraph and Michael Casey of the Wall Street Journal, have already claimed this to be a shot in the currency wars. Casey focuses exclusively on the BOJ activity and does not even mention GPIF. Evans-Pritchard spends most of his time talking about the bearish yen implications of the increased BOJ purchases, and mentions GPIF only at the very end of the his essay, and even then to...
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Richard Koo, Revitalizing the Eurozone without Fiscal Union, April 2012
2012-05-18 -
7d) Richard Koo’s and other Sector Balances
2014-05-18 -
How Long Will the U.S. Recovery Last? A Reminder: The False Japanese Recovery in 1998/1999
2014-02-15 -
Richard Koo: Balance Sheet Recessions
2012-12-30 -
Balance Sheet Recession becomes mainstream, four years too late
2014-05-18 -
Cultural Reasons for Japan’s Deflation: Can the U.S. Go into a Balance Sheet Recession?
2014-04-20