Tag Archive: newsletter

Dollar Stalls as Market Sentiment Improves

2020-04-23

by

2020-04-23

The virus news stream remains mixed; oil remains at center stage with still extreme volatility. The White House and House Democrats struck a deal on a new aid package worth $484 bln. Canada reports March CPI; Mexico delivered a surprise 50 bp cut to 6.0% yesterday afternoon.

Read More »

Why Markets Are Rallying as Millions Become Unemployed

2020-04-23

by

2020-04-23

The US economy is imprisoned, most of the population is under house arrest, and the inmates in Washington are running the asylum. And yet while the nation appears to be walking the green mile, investors residing in the Wall Street cell block have been extended pardons from the market gods.

Read More »

Coronavirus: the age difference behind lower Swiss death rate

2020-04-23

by

2020-04-23

Switzerland’s Covid-19 death rate has been lower than much of the rest of Europe. A lower infection rate among older people appears to be one reason. The rates of deaths among those either recovering or dying have been particularly high in Belgium (40%), France (34%) and Italy (31%).

Read More »

SNB dürfte im ersten Quartal 30Milliarden Franken verlieren

2020-04-22

by

2020-04-22

Bruttoerfolg der SNB nach Komponenten
Die SNB dürfte im ersten Quartal des laufendenJahres einen Verlust von rund CHF 30 Mrd.ausweisen. Die Coronakrise führte zu einem Kurssturz anden Aktienmärkten und zu einer Aufwertung desFrankens auf breiter Basis, beides schadete demErgebnis der SNB.

Read More »

FX Daily, April 22: Investors Catch Collective Breath, but Sentiment remains Fragile

2020-04-22

by

2020-04-22

Overview:  Risk-appetites appear to have stabilized for the moment. Most equity markets are higher. Japan and Malaysia were exceptions, but the MSCI Asia Pacific Index rose for the first time this week. In Europe, the Dow Jones Stoxx 600 is recouping about a third of yesterday's loss.

Read More »

5 Schritte um mit dem Vermögensaufbau zu Beginnen ??

2020-04-22

by

2020-04-22

Heute möchte ich mit euch über die 5 Schritte sprechen, mit denen ihr Vermögen aufbauen könnt. Dieser Beitrag richtet sich eher an die Leute, die mit dem Vermögensaufbau beginnen wollen. Ich gebe euch heute eine kleine Guideline, wie man die ersten Schritte richtig macht. Vieles davon ist aus meiner eigenen Erfahrung, wie ich mit meinem heutigen Wissen nochmal starten würde.

Read More »

Swiss Trade Balance Q1 2020 : chemistry-pharma keeps exports in black numbers

2020-04-22

by

2020-04-22

Swiss exports and imports, seasonally adjusted (in bn CHF), Q1 2020
The boom in chemicals and pharmaceuticals enabled Swiss exports to increase in March as well as in the first quarter of 2020 (+ 2.2% respectively + 1.0%). Despite the global economic situation linked to the “Covid-19”, the performance of this sector offset the decline suffered by most of the other groups. As in the previous quarter, seasonally adjusted imports fell (- 2.8%). The trade balance for the first three months of 2020 ends with a surplus...

Read More »

The Greenspan Bell

2020-04-22

by

2020-04-22

Germany ZEW Financial Market Survey, 2006-2020
What set me off down the rabbit hole trying to chase modern money’s proliferation of products originally was the distinct lack of curiosity on the subject. This was the nineties, after all, where economic growth grew on trees. Reportedly. Why on Earth would anyone purposefully go looking for the tiniest cracks in the dam?

Read More »

The Experts Have No Idea How Many COVID-19 Cases There Are

2020-04-22

by

2020-04-22

In the early days of the COVID-19 panic—about three weeks ago—it was common to hear both of these phrases often repeated: "The fatality rate of this virus is very high!" "There are far more cases of this out there than we know about!"

Read More »

FX Daily, April 21: Oil Drilled Below Zero, Equity Rally Stalls, Greenback Advances

2020-04-21

by

2020-04-21

Overview:  Oil's wild ride has been joined by two other developments that are keeping investors off-balance. First, reports suggest that North Korea's Kim Jong-Un maybe in critical condition after surgery. He apparently was absent from last week's events celebrating his grandfather.

Read More »

Is Venezuela’s gold a liability for Switzerland?

2020-04-21

by

2020-04-21

Venezuela is illegally mining and trading in gold, and Switzerland could be one of its clients, according to Swiss media reports. swissinfo.ch spoke to law enforcement, customs and financial authorities to find out whether they are taking action.

Read More »

Rothbard on Why We Need Entrepreneurs

2020-04-21

by

2020-04-21

In his Man, Economy, and State, Murray N. Rothbard investigates not only the role of the capitalist but also that of the entrepreneur in a market economy. Rothbard uses the theoretical concept of the evenly rotating economy (ERE) to compare the role of the capitalist to that of the entrepreneur. Entrepreneurs earn profits in so far as they successfully correct the maladjustments in the real economy and move it closer to the ERE without ever...

Read More »

Crouching Silver, Hidden Oil Market Report 20 Apr

2020-04-21

by

2020-04-21

Gold Basis and Co-basis and the Dollar Price
The price of gold has been up steadily for the last 30 days (with a few zigs and zags), now re-attaining the high it achieved prior to the big drop in March. Gold ended the week at $1,662. Alas, it’s not quite the same story in silver, whose price drop was bigger. Now its price blip is smaller. Silver ended the week at $15.19.

Read More »

Dollar Firm as Equities and Oil Start the Week Under Pressure

2020-04-20

by

2020-04-20

Front-Month Oil Futures, 2015-2020
The lockdown vs. opening debate continues in just about every country; the dollar is consolidating recent gains. Reports suggest the White House and House Democrats are nearing a deal on another aid package worth nearly $500 bln; the extra fiscal stimulus will add to downward ratings pressure on the US.

Read More »

Coronavirus called a ‘decisive test’ for the UN system  

2020-04-20

by

2020-04-20

The pandemic is testing the limits of the United Nations system, say Geneva and New York-based experts, amid funding challenges and an ongoing blame game between the United States and China. The UN is marking its 75th anniversaryexternal link this year. What could have been a year of celebration is becoming a year of crisis.

Read More »

Surviving Covid-19: the Swiss economy’s strengths and weaknesses

2020-04-20

by

2020-04-20

The current pandemic will plunge the world economy into recession, at least in the first part of the year. What tools does Switzerland have to minimise the economic and social damage of this crisis? And what factors could jeopardise the prospects for an economic recovery?

Read More »

How Government Makes a Pandemic More Deadly

2020-04-20

by

2020-04-20

In the early days of the outbreak, pundits rushed to the ramparts of Twitter to proclaim that “there are no libertarians in a pandemic.” However, this glee at the apparent failure of markets was soon dashed as more evidence accumulated showing that government intervention was actually the main impediment to success.

Read More »

Digital grassroots response to government bailouts

2020-04-19

by

2020-04-19

The CHF60 billion Swiss state bailout of companies is well underway. But there is a feeling that government funds that hand out loans and pay workers’ wages will not be enough. How do companies maintain contact with customers and develop their brands during a lockdown?

Read More »

Coronavirus: numbers in Switzerland slow further

2020-04-19

by

2020-04-19

By 14 April 2020, a total 25,936 cases of Covid-19 infection had been recorded in Switzerland, a rise of 3,683 over the preceding 7 days. However, despite the continued rise in cases there are indications measures to slowdown the spread of the virus are working.

Read More »

Overcapacity / Oversupply Everywhere: Massive Deflation Ahead

2020-04-19

by

2020-04-19

Light Crude Oil, 2018-2020
The price of a great many assets will crash, out of proportion to the decline in demand. Oil is the poster child of the forces driving massive deflation: overcapacity / oversupply and a collapse in demand. Overcapacity / oversupply and a collapse in demand are not limited to the crude oil market; rather, they are the dominant realities in the global economy.

Read More »