Tag Archive: Featured

FX Daily, December 11: Brexit Fears Weigh on Sterling

2020-12-11

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2020-12-11

Overview:  The odds of a UK-EU agreement and new stimulus before year-end in the US have faded and are sapping risk appetites ahead of the weekend.  Although most Asia Pacific equity markets gained, China and Australia were notable exceptions, European shares are heavy, and the Dow Jones Stoxx 600 is near three-week lows. 

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WEF’s Asian relocation to cost Switzerland tens of millions

2020-12-11

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2020-12-11

Swiss hotels, restaurants and shops are counting up the cost of the World Economic Forum’s (WEF) flagship event moving to Singapore next year. This year’s 50th annual meeting realised a net gain of around CHF80 million ($90 million) for the Swiss economy.

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The Costs of Coronavirus Lockdowns

2020-12-11

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2020-12-11

Throughout the next weeks, we will regularly feature statistics showing some of the costs of the prevailing lockdown politics. This article is an introduction to this new series. All over Europe, life has come to a halt again. As a second wave of Coronavirus infections has arrived, social and economic life has largely once more, as was already the case in spring when COVID-19 first spread across the world.

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Central Banks Put Wind at Bitcoin’s Back

2020-12-11

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2020-12-11

“Russia, Russia, Russia,” the current president used to sarcastically chastise opponents for wondering about 2016 election tinkering from Putin’s principality. Recent MAGA rallies featured “Covid, covid, covid,” with President Trump complaining that the press could think of nothing else.

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FX Daily, December 10: Brexit and US Stimulus are Unresolved as Attention Turns to the ECB

2020-12-10

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2020-12-10

Overview:  US threats to break-up Facebook and the stalled stimulus talks spurred profit-taking in US shares yesterday and is dampening enthusiasm today.  The MSCI Asia Pacific Index fell for the third time this week, and Europe's Dow Jones Stoxx 600 is little changed. 

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Dollar Rally Running Out of Steam Ahead of ECB Decision

2020-12-10

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2020-12-10

Stimulus talks drag on; US November CPI will be today’s data highlight; US Treasury wraps up a big week of auctions today with $24 bln of 30-year bonds on offer. The November budget statement will hold some interest; weekly jobless claims will be closely watched;

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Janet Yellen: Too Dumb To Stop

2020-12-10

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2020-12-10

Autographing Funny Money. The United States Secretary of the Treasury bears a shameful job duty. They must place their autograph on the face of the Federal Reserve’s legal tender notes. Here, for the whole world to witness, the Treasury Secretary provides signature endorsement; their personal ratification of unconstitutional money.

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Escaping Paternalism

2020-12-10

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2020-12-10

Some economists, such as the 2017 Nobel Laureate Richard Thaler and his colleague Cass Sunstein, have proposed an unusual justification for government interference with people’s choices. They do not intend, they say, to override the preferences that people have. They don’t want to tell people what they “should” want, according to an external standard that people don’t accept.

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Italy suspends rail links with Switzerland

2020-12-09

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2020-12-09

Update: It appears rail connections between Italy and Switzerland will not be interrupted after Switzerland’s president and the Italian minister of transport spoke on Wednesday. Solutions have been identified to ensure compliance with Italy’s anti-COVID measures. Rail links are expected to gradually return to normal over the next few days, according to a report by RSI.

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Covid, December 10: Bern to consider new measures as cases rise again

2020-12-09

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2020-12-09

Laboratory-confirmed cases
On 8 December 2020, Switzerland’s Federal Council announced it was considering further restrictions starting from 12 December 2020 and running until 20 January 2021.

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FX Daily, December 9: Hope Burns Eternal

2020-12-09

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2020-12-09

The market is hopeful today. The Johnson-von der Leyen dinner is seen as evidence that both sides see one more opportunity, and sterling is among the strongest currencies today. Hopes of a $900 bln+ fiscal stimulus package in the US helped stir animal spirits and lift US stocks to record highs yesterday.

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Climate Change Policy Isn’t Worth Its High Cost

2020-12-09

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2020-12-09

Audio Mises Wire
In most economies, inventories are valued at market prices, while in China they are valued by the authorities and adjusted later. This is just one of many ways China manipulates GDP data.

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Inflation Hysteria #2 (Nominal UST)

2020-12-09

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2020-12-09

UST Yield Curve, 2017-2018
What had given Inflation Hysteria #1 its real punch had been the benchmark 10-year Treasury note. Throughout 2017, despite the unemployment rate in the US, globally synchronized growth being declared around the world (and being declared as some momentously significant development), and whatever other tiny factors acceding to the narrative, longer-term Treasury rates just weren’t buying it.

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Jittery Markets Keep the Dollar Afloat (For Now)

2020-12-09

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2020-12-09

Performance vs. Dollar, 2020
US fiscal negotiations are taking longer than expected; US Treasury auctions $56 bln of 3-year notes; we believe the Fed is watching the yield curve closely; Brazil reports November IPCA inflation; Chile kept rates on hold at 0.50% and tweaked its asset purchase program.

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Introduction to the Entrepreneurship Special Issue

2020-12-09

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2020-12-09

The Austrian school of economics has been all but left by the wayside in economics (e.g., Backhouse 2000). This fate, shared with all “heterodox” approaches that do not fully comply with mainstream dogma, means Austrian theory is at best discounted by other economists. More often, and typically, it is forgotten and a relic of the past.

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FX Daily, December 8: Consolidative Moment as Markets Wait for Fresh Developments

2020-12-08

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2020-12-08

EUR/CHF and USD/CHF, December 8
Overview:  Three brinkmanship dramas continue to play out.  The UK-EU trade talks have reportedly made little progress and may have even moved backward, according to some reports, over the past two days.  The EU and Poland, and Hungary will be butting heads at the leaders' summit that begins Thursday.  The US federal spending authorization is exhausted at the end of the week.

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Endet die Jahresendrallye?! | Der große Marktausblick | KW 50

2020-12-08

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Endet die Jahresendrallye?! | Der große Marktausblick | KW 50 Dieses Video ist die Aufzeichnung des großen Marktausblicks. In der wir auf die momentane Marktlage eingeben. Trage dich jetzt in unseren Newsletter ein, um den "Blick auf die Woche" am Montag noch vor allen anderen zu erhalten: https://mariolueddemann.com/aktuelles/#newsletter Basiskurs Trading: https://mariolueddemann.com/basiskurs-trading/ Screeningdienst für nur 1€ testen:...

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WEF annual meeting moves from Switzerland to Singapore

2020-12-08

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2020-12-08

The coronavirus pandemic has forced the World Economic Forum (WEF) to relocate its flagship event to Singapore next year. It will be only the second time in 50 years that it will be staged outside of the Swiss mountain resort of Davos.

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Swissair liquidator extracts CHF2.75 million from former bosses

2020-12-08

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2020-12-08

Former Swissair bosses have been ordered to pay CHF2.75 million ($3 million) almost 20 years after the national airline carrier went bust. The bill has been presented to 14 former managers after many years of legal wrangling and court battles.

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Polar Opposite Sides of Consumer Credit End Up in the Same Place: Jobs

2020-12-08

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2020-12-08

CPS Household Survey, 2003-2020
If anything is going to be charged off, it might be student loans. All the rage nowadays, the government, approximately half of it, is busily working out how it “should” be done and by just how much. A matter of economic stimulus, loan cancellation proponents are correct that students have burdened themselves with unprofitable college “education” investments.

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