Tag Archive: Featured

Switzerland UBS Consumption Indicator March: Problem child in retail

The UBS consumption indicator registered at 1.50 points in March, indicating private consumption growth around the long-term average. Solid automotive demand drove this figure. Domestic tourism, on the other hand, took a breather after a strong start...

To Frexit or Not to Frexit – Precious Metals Supply and Demand

Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

Weekly Speculative Positions: CHF Position Stands at same Position

Speculators continued to reduce their net short euro exposure until March 28. Apparently they do not understand the difference between core inflation and the headline figure. In the last week, finally they increased their Euro shorts again.... and...

Where There’s Smoke…

Central banks around the world have colluded, if not conspired, to elevate and prop up financial asset prices. Here we'll present the data and evidence that they've not only done so, but gone too far. When we discuss elevated financial asset prices we...

FX Daily, April 25: Euro Consolidates Gains, Bond Market Sell-Off Continues

The US dollar is again at the fulcrum of the foreign exchange market. The dollar-bloc currencies are under pressure, along with the Japanese yen, while the European complex is posting modest gains. The euro is consolidating in the half cent below...

Bi-Weekly Economic Review

It wasn’t a very good two weeks for economic data with the majority of reports disappointing. Most notable I think is that the so called “soft data” is starting to reflect reality rather than some fantasy land where President Trump enacts his entire...

Gold Sovereigns – ‘Treasure’ Trove Found In UK – Don’t Be The Piano Owner

The gold sovereigns – semi-numismatic gold coins made up of both gold sovereigns and half gold sovereigns dating from the reigns of Victoria, Edward VII and George V – were discovered inside an old piano after it was donated to a school last year.

Euro gains against Swiss franc on French election result

The official French presidential election results place Emmanuel Macron (23.8%) and Marine Le Pen (21.5%) in first and second places in the first round of the French presidential race. The run off between these two will take place on 7 May 2017, when...

FX Daily, April 24: Dramatic Response to French Election

The results of the first round of the French election spurred a dramatic response in the capital markets. Our thesis that there is no populist-nationalist wave sweeping the world is supported by the previous results in Austria, the Netherlands, and...

FX Weekly Preview: Politics and Economics in the Week Ahead

Provided Le Pen and Macron or Fillion make to the second round, the market response to the French election results may be short lived. BOJ, Riksbank and ECB meetings. Spending authorization and some announcement from the White House on tax policy are...

Money In America

In 1830, France was once more swept up in revolution, only this time at the end of it was installed one king to replace another. Louis-Phillipe became, in fact, France’s last king as a result of that July Revolution. The country was trying to make...

Central Banks Have a $13 Trillion Problem

GUALFIN, ARGENTINA – The Dow was down 118 points on Wednesday. It should have been down a lot more. Of course, markets know more than we do. And maybe this market knows something that makes sense of these high prices. What we see are reasons to sell,...

FX Weekly Review, April 17 – 22: Dollar Technicals Trying to Turn, but…

While the dollar index had another bad week with a 0.75% less, the Swiss Franc currency index could accumulate the corresponding gains. Main reason is that the EUR/CHF rose over 1.07.

Big bonuses contrast big losses at Credit Suisse, despite bonus haircuts

The management of Credit Suisse Credit Suisse reduced their bonuses by 40% after severe criticism from shareholders. The reduction amounts to around CHF 20 million. Some are still outraged. The group made a loss of CHF 2.7 billion in 2016 and one of...

Simple Math of Bank Horse-Puckey

We stepped out on our front stoop Wednesday morning and paused to take it all in. The sky was at its darkest hour just before dawn. The air was crisp. There was a soft coastal fog. The faint light of several stars that likely burned out millennia ago...

Marx, Orwell and State-Cartel Socialism

When "socialist" states have to impose finance-capital extremes that even exceed the financialization of nominally capitalist economies, it gives the lie to their claims of "socialism." OK, so our collective eyes start glazing over when we see Marx and...

Our Intellectual Bankruptcy: The “Religion” of Economics, UBI and Medicare For All

1. Mainstream neo-classical/ Keynesian economics. As economist Manfred Max-Neef notes in this interview, neo-classical/ Keynesian economics is no longer a discipline or a science--it is a religion. It demands a peculiar faith in nonsense: for example,...

Swiss employers continue to discriminate against over 50s

Travail Suisse, an association representing Swiss employees, highlights once more the age discrimination faced by those over 50 in the Swiss job market. In March 2017, 26.8% of unemployed in the this age group had been without work for more than a...

State of Dollar Bull Market

The dollar market is intact, despite the pullback here at the start of 2017. We have seen similar pullbacks in 2016 and 2015. Divergence remains the key driver.

Silver, Platinum and Palladium as Investments – Research Shows Diversification Benefits

Silver, platinum and palladium see increased role as investment vehicles. Increase in academic output on the white precious metals is in line with this. Silver and particularly gold are safe haven assets. Silver was a safe haven at times during which...
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