Follow us or the Bunny gets it. No
Bunny gets it

Subscribe for newsletter


Follow us in Twitter



Gold standard and monetary metals:


Subscribe for browser push notifications

Tag Archive: Featured

The colonial vision of Swiss multinationals

2020-09-30

by

2020-09-30

Switzerland is the home of many major multinational companies, many of which date back to the late 19th century, the high tide of colonialism. But is there a link between the rise of great Swiss corporate names and European colonial expansion? The issue turns out to be a complex one.

Read More »

Dollar Softens as Risk-Off Sentiment Ebbs

2020-09-30

by

2020-09-30

EM FX YTD Performance, 2020
The dollar continues to soften as risk-off sentiment ebbs; the first presidential debate will take place tonight. House Democrats have staked out their latest position at $2.2 trln; there is a fair amount of US data out today; Brazil has come under renewed pressure from fiscal concerns.

Read More »

Silver Rises, JP Morgan Manipulates!

2020-09-30

by

2020-09-30

Silver Basis and Co-basis
While the silver price was dropping recently, we published analyses here and here. At that time, we saw a basis that fell with price, but which recovered during “off” days. In short, there was not much of a decrease in abundance of the metal to the markets commensurate with the price drops.

Read More »

Monthly Macro Monitor – September 2020

2020-09-30

by

2020-09-30

US Industrial Production Index
The economic data over the last month continued to improve but the breadth of improvement has narrowed. Additionally, while most of the economic data series are still improving, the rate of change, as Jeff pointed out recently, has slowed. I guess that isn’t that surprising as the initial phase of the recovery comes to an end.

Read More »

If the US Adopts Eurozone Policies, the Jobs Recovery Will Suffer

2020-09-30

by

2020-09-30

The employment recovery in the United States is as impressive as the collapse due to the lockdowns. In April I wrote a column stating that “The U.S. Labor Market Can Heal Quickly,” and the improvement has been positive. Very few would have expected the unemployment rate to be at 8.4 percent in August after soaring to almost 15 percent in the middle of the pandemic.

Read More »

FX Daily, September 29: Consolidation Still Featured

2020-09-29

by

2020-09-29

A consolidative tone continues across the capital markets. Equities have lost their momentum. The MSCI Asia Pacific Index was mixed, while Europe's Dow Jones Stoxx 600 is paring yesterday's sharp 2.2% gain. US shares are little changed but mostly softer. 

Read More »

GDP level corrected from 2.8 percent to 3.6 percent between 1995 and 2017 following revision of the national accounts

2020-09-29

by

2020-09-29

Swiss Economic Growth 1996–2018
The results of the national accounts published by the Federal Statistical Office (FSO) have been revised upwards. New data series are available for the period 1995 to 2019. This revision was carried out in collaboration with the sector responsible for quarterly estimates at SECO, provides methodological improvements and takes into consideration new data.

Read More »

Switzerland adds 18 more regions to its quarantine list

2020-09-29

by

2020-09-29

Today, Switzerland’s Federal Office of Public Health (FOPH) added 18 regions to its compulsory quarantine list. Anyone arriving in Switzerland from these place from 28 September 2020 will be required by law to quarantine for 10 days.

Read More »

Dollar Soft as Markets Ignore Virus Numbers and Switch to Risk-On Mode

2020-09-29

by

2020-09-29

GBP Risk Reversals and Positioning, 2019-2020
Virus numbers are rising across Europe and the US; the dollar is softening as risk-off sentiment ebbs. It is a fairly quiet day in the US; there is a glimmer of hope about a fiscal deal in the US; recent US data support the widely held view that more stimulus is needed.

Read More »

Why “Taxing the Rich” Doesn’t Make Us Better Off

2020-09-29

by

2020-09-29

The complete confiscation of all private property is tantamount to the introduction of socialism. Therefore we do not have to deal with it in an analysis of the problems of interventionism. We are concerned here only with the partial confiscation of property. Such confiscation is today attempted primarily by taxation.

Read More »

Mises and Moral Relativism

2020-09-29

by

2020-09-29

I heard several days ago from my friend Larry Beane that people in Walter Block’s seminar who had been reading Theory and History wondered whether Mises is a moral relativist. As I’ll try to show, the answer depends on what you mean by “moral relativist,” but in the way the term is usually understood in contemporary philosophy, he isn’t.

Read More »

SWISS plans to introduce rapid pre-boarding Covid tests

2020-09-28

by

2020-09-28

German airline Lufthansa will introduce rapid tests before certain flights to detect Covid-19 in passengers. If the trial, set to start in October, is successful, it will be expanded to Lufthansa subsidiaries Swiss International Air Lines (SWISS) and Edelweiss.

Read More »

FX Daily, September 28: Stocks Recover while the Greenback Consolidates

2020-09-28

by

2020-09-28

Overview: Following the strong finish in the US before the weekend, global equities are paring last week's slide.  The MSCI Asia Pacific Index rose to for a second session. Markets in  Japan, Taiwan, South Korea, and India rose by more than 1%.  China and Australia were notable exceptions. 

Read More »

Covid-19: Swiss ‘industry mix’ helps avert dramatic GDP slump

2020-09-28

by

2020-09-28

Government economists say the impact of the pandemic in Switzerland is slightly less severe than previously feared. This is partly thanks to the mix of industries in Switzerland and the decision to rapidly lift coronavirus restrictions, according to the State Secretariat for Economic Affairs (SECO).

Read More »

EM Preview for the Week Ahead

2020-09-28

by

2020-09-28

Persistent risk-off impulses weighed on EM last week and that may continue this week. The Asian currencies outperformed last week while MXN, ZAR, and COP underperformed, and we expect these divergences to continue. Despite optimism about a stimulus package in the US, we think it remains a long shot. Meanwhile, virus numbers are rising in Europe and the US, with data from both regions likely to continue weakening.

Read More »

Rent Control Is Bad for Renters, but Good for Politicians

2020-09-28

by

2020-09-28

Ontario’s ever-changing rent control policies prove that politicians are just as committed to flip-flopping as the Minnesota Vikings are to not winning the Super Bowl.

Read More »

Adjustments to publication of data on money and foreign exchange market operations

2020-09-27

by

2020-09-27

Additional data on money market operations and more frequent publication of volume of foreign exchange market interventions

Read More »

Switzerland to ramp up seasonal flu vaccinations to cut Covid-19 co-infection risk

2020-09-27

by

2020-09-27

As winter approaches the federal and cantonal governments of Switzerland are hoping a larger number of people than normal will get the seasonal flu jab as the spread of Covid-19 continues, according to RTS.

Read More »

The slow but steady progress of driverless buses in Switzerland

2020-09-27

by

2020-09-27

Over the past five years, various kinds of autonomous vehicles, including buses, have popped up on Swiss roads. But though testing continues, a driverless future might yet be some years away.

Read More »

Consumer Mood Darkens On Employment Prospects

2020-09-27

by

2020-09-27

Job Transitions, 2014-2020
A Fed survey of expectations shows that the consumer mood darkens on employment and job prospects. This chart shows the changes in employment status of respondents who were  employed four months ago. The Fed survey asks individuals currently employed (excluding self-employment) whether they are working in the same job as when they submitted their last survey. 

Read More »