Tag Archive: current account

What Drives Government Bond Yields, Part2: Emerging Markets and Recent Discussions

Two additional criteria important for Emerging Markets: High foreign debt, a weak net investment position and a current account deficit increases government bond yields.

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7d) Richard Koo’s and other Sector Balances

Sector Balances United States, Households, Corporations, Government, Current Account

A list of long-term sector balances and related provided by Nomura's research institute and its chief economist Richard Koo.

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History of the Swiss Balance of Payments, 1985-2013

Direct Investments Portfolio Investments Net Bank Lending Reserve Assets

Last Week’s Sell-Off: More on the Discrepancy between Developed and Emerging Markets

2014-01-27

by George Dorgan

2014-01-27

Last week’s decline in stock markets was probably caused by the HSBC manufacturing PMI for China that contracted for the first time in months, and possibly also by the rapid fall of UK unemployment rates and Bank of England’s response to it. As the rising gold price showed, Fed “tapering fears” were not at the …

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How European Leaders Are Successfully Implementing Say’s Law

The concerted actions in September 2012 between the two big central banks reflected two fundamental economic principles: The Fed opted for Keynes' law, the ECB for Say's Law with conditionality. And apparently the ECB was successful.

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Our March 2013 Analysis: “Volcker Moment Redux”: Upcoming Weakness of Emerging Markets

The 2010 QE2 is a reason why many emerging markets started to slow considerably in the course of 2012. We reckon that this weakness will continue. Bizarrely QE2 helped to reduce global imbalances.

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The Collapse of the Bretton Woods System, the German Current Account and Gold Reserves

Gold and FX Reserves US, Germany, Switzerland, UK, Japan 1950-1970 vs. German Gold

German, Swiss and Japanese gold reserves rose continously in the Bretton Woods system, whereas American and British reserves fell.

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Before and After Lehman: Switzerland and the United States Compared

Yearly Immigration to Switzerland United States 2013 2002

Higher Rates, Consequences on Public Debt Japan US UK

In this second part of our series we provide arguments why the widely expected strong dollar period might not come. We look at the most important economic indicators that might justify a stronger dollar: the ISM manufacturing index and the interest rate differences between the U.S. and Europe.

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FX Theory: Understand Terms of Trade and Price-Adjusted Trade Balances

Strong Dollar: the Parallels Between Now, the 1980s and 1998-2002, Part 1: Austerity

2013-07-09

by George Dorgan

2013-07-09

Thailand South Korea Current Account Asia Crisis

We examine the relationship between strong dollar phases and austerity in other parts of the world. Between 1983 and 1985 one reason for the strong dollar were high real interest rates in the U.S. after the defeat of the Great Inflation period, the enforced austerity in Southern America and cheap commodity prices caused by generally …

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Danthine’s Latest Statements Imply that SNB Might Remove Cap in 2014

2013-06-11

by George Dorgan

2013-06-11

Jean Pierre Danthine Swiss National Bank SNB

SNB Vice Chairman Jean-Pierre Danthine is undoubtedly the most hawkish member of the governing board, an opposite personality to the rather interventionist and Keynesian hedge fund manager Philip Hildebrand. Danthine has perfectly understood that times for the SNB might get hard again in 2014. Jean-Pierre Danthine has made some comments recently: – Swiss franc stays …

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Ageing and Immigration in the U.S. and Japan and the New Normal

The Swiss Trade Surplus: A Really Global Economy

2013-05-28

by George Dorgan

2013-05-28

The Swiss trade balance for goods clearly indicates its global orientation. Switzerland has a trade surplus with the US, Canada, the UK and many emerging markets. Swiss exports are mostly luxury products and pharmaceuticals. The total surplus for the 4 first months in 2013 was 7.7 billion CHF, about 1.2% of GDP, annualized around …

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Tag Archive: current account

What Drives Government Bond Yields, Part2: Emerging Markets and Recent Discussions

7d) Richard Koo’s and other Sector Balances

History of the Swiss Balance of Payments, 1985-2013

How Long Will the U.S. Recovery Last? A Reminder: The False Japanese Recovery in 1998/1999

Last Week’s Sell-Off: More on the Discrepancy between Developed and Emerging Markets

How European Leaders Are Successfully Implementing Say’s Law

Our March 2013 Analysis: “Volcker Moment Redux”: Upcoming Weakness of Emerging Markets

The Collapse of the Bretton Woods System, the German Current Account and Gold Reserves

Before and After Lehman: Switzerland and the United States Compared

Why the SNB will not Imitate Hong Kong, but Potentially Singapore

Why There Won’t Be A Strong Dollar, Even If The Financial Establishment Thinks So

FX Theory: Understand Terms of Trade and Price-Adjusted Trade Balances

Strong Dollar: the Parallels Between Now, the 1980s and 1998-2002, Part 1: Austerity

Danthine’s Latest Statements Imply that SNB Might Remove Cap in 2014

Ageing and Immigration in the U.S. and Japan and the New Normal

T. Jordan: Strong Swiss franc and large current account surplus – a contradiction?

The Swiss Trade Surplus: A Really Global Economy

GDP Comparison BRICS Developed Markets

Which Of The Six Major Fundamental Factors For Gold And Silver Are Still Positive? Which Are Not? (April 2013)

The European Transfer Union From North To South and from Poor to Rich between 1999 and 2007

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Live Currency Cross Rates

On Swiss National Bank

SNB Sight Deposits: increased by 0.2 billion francs compared to the previous week

USD/CHF posts modest gains to near 0.9000 in thin holiday trading

Forex Today: Markets quiet down as Christmas approaches

Gold finds some support at $2,660, with upside attempts limited

USD/CHF aims to revisit 0.8950 as SNB to cut rates further

Main SNB Background Info

SNB Sight Deposits: increased by 0.2 billion francs compared to the previous week

The Secret History Of The Banking Crisis

SNB Balance Sheet Now Over 100 percent GDP

The relationship between CHF and gold

CHF Price Movements: Correlations between CHF and the German Economy

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