Tag Archive: newsletter

Great Graphic: Did the CRB Bottom?

2018-09-12

by

2018-09-12

The CRB index has been trending lower since late May. It fell nearly 10% to retrace 50% of the rally come June 2017. This Great Graphic shows the 4 1/2 month trendline. It had been violated in late August but fell back under it at the end of last week.  

Read More »

Rep. Alex Mooney: Bring Back Gold!

2018-09-12

by

2018-09-12

Washington has been quite the circus lately. Bret Kavanaugh’s appearance in front of the Senate Judiciary Committee prompted dozens of interruptions from Democrats and numerous protests from leftists. During Twitter CEO Jack Dorsey’s testimony to the House Commerce Committee, journalist Laura Loomer demanded to be verified on the social media platform, and Representative Billy Long (R-MO) held an auction.

Read More »

Steuern sparen Immobilien – Wie du als Immobilieninvestor deinen Steuersatz senkst | Johann Köber

2018-09-11

by

Steuern sparen Immobilien - sichere dir jetzt dein Ticket für den nächsten Immopreneur Kongress 2019: http://bit.ly/IPK19YT Eine der besten Möglichkeiten, um deinen Gewinn als Immobilieninvestor zu erhöhen, ist Möglichkeiten zu finden, wie du deinen Steuersatz senkst. In diesem Video zeigt dir Johann Köber, wie du es schaffst, durch Immobilien Steuern zu sparen. Jetzt für die Immopreneur Masterclass mit Thomas Knedel bewerben: ▶▶▶...

Read More »

FX Daily, September 11: Dollar May Prove Resilient if it is Turn Around Tuesday

2018-09-11

by

2018-09-11

The euro and sterling extended their recovery from the US hourly earnings lows seen before the weekend. However, the move stalled in the European morning, after the UK reported better than expected earnings itself. Sterling approached the 61.8% retracement of the decline from the July high (~$1.3365) found just below $1.31. It has been correcting higher since reaching almost $1.2660 on August 15.

Read More »

Why the Fed Denied the Narrow Bank, Report 9 Sep 2018

2018-09-11

by

2018-09-11

Gold and Silver Price
It’s not every day that a clear example showing the horrors of central planning comes along—the doublethink, the distortions, and the perverse incentives. It’s not every year that such an example occurs for monetary central planning. One came to the national attention this week. A company called TNB applied for a Master Account with the Federal Reserve Bank of New York.

Read More »

Cool Video: What Earth Really Looks Like

2018-09-11

by

2018-09-11

Here is the challenge:  Representing a three-dimensional object in two-dimensions.  It is impossible to do without distortions.  Those distortions can reflect cultural biases as well as the function of the map, such as for navigation purposes.  

Read More »

Global Asset Allocation Update – September 2018

2018-09-11

by

2018-09-11

Moderate Allocation, Sep 2018
The risk budget is unchanged again this month. For the moderate risk investor, the allocation between bonds and risk assets is 50/50. Decoupling anyone? That’s what the market is whispering right now, that the recent troubles in foreign economies is contained and won’t affect the US. The most obvious example of that trend is the performance of US stocks versus the rest of the world.

Read More »

Takeovers and trade at heart of minister’s China visit

2018-09-11

by

2018-09-11

It is unfair that whilst Chinese investors can buy Swiss companies the reverse is not possible, says economics minister Johann Schneider-Ammann, who is currently on a visit to China. In an interview with the “Schweiz am Wochenende” newspaper, he reiterated his view that this must be rectified. For infrastructure like electricity supply and telecommunications, the government should be able to intervene “if a company is threatened by a foreign...

Read More »

FX Daily, September 10: Initial Extension of Euro and Sterling Losses Stall

2018-09-10

by

2018-09-10

The US dollar's pre-weekend gains were extended against most the major currencies, but the euro, sterling, and Australian dollar have recovered in the European morning.  Emerging markets currencies are mixed. The Indian rupee is the weakest(of the emerging market currencies (~-0.8%) following the widening of the Q2 current account deficit at the end of last week and ahead of the August trade deficit which is expected to show the impact of rising...

Read More »

Inflation ist nicht Inflation

2018-09-10

by

2018-09-10

Das südamerikanische Land Venezuela führt gerade vor, was geschehen kann, wenn die Inflation ausser Kontrolle gerät. Der Internationale Währungsfonds rechnet bis Ende Jahr mit einer Teuerung von 1 Million Prozent. Eine solche Inflation wird etwa erreicht, wenn sich das Preisniveau rund alle vier Wochen verdoppelt. Wenn sich Geld in einem solchen Ausmass entwertet, verliert es jeden Nutzen, denn dann kann es seine Funktionen als Mittel zur...

Read More »

Older people marginalized on Swiss labour market, says report

2018-09-10

by

2018-09-10

Despite recent government optimism about the Swiss economy, older people who lose their jobs are struggling, reports Sunday newspaper “Le Matin Dimanche”. The paper cites figures from the Bern University of Applied Sciences that found only 13.9 per cent of unemployed people over 50 in Switzerland find a stable job again. Many end up on social assistance after their unemployment benefits run out.

Read More »

Emerging Markets: What has Changed

2018-09-10

by

2018-09-10

Philippine central bank signaled another big hike. Poland central bank appears to be moving its forward guidance out further. Russia officials are sending confusing signals regarding monetary policy. Russia officials stand ready to support the ruble debt market if new US sanctions negatively impact it. South Africa’s African National Congress pledged to undertake land reform responsibly.

Read More »

Vaud to cap health insurance premiums at 12 percent of income

2018-09-09

by

2018-09-09

Starting in September 2018, health insurance premiums in excess of 12% of income in the canton of Vaud will be covered by the government. From the beginning of 2019, this percentage will be reduced to 10%, increasing the number of people who qualify and the size of the subsidies, according to the newspaper Le Matin.

Read More »

KEIN RISIKO als Immobilieninvestor mit der richtigen Unternehmensform | Achim Zimmermann

2018-09-08

by

Richtige Unternehmensform - sichere dir jetzt dein Ticket für den nächsten Immopreneur Kongress 2019: http://bit.ly/IPK19YT Ist es möglich das Risiko als Immobilieninvestor komplett zu minimieren? Wenn du die richtigen Wege kennst, dann ist das möglich. Achim Zimmermann zeigt dir in diesem Video, wie das geht. Dr. Achim Zimmermann: https://achim-zimmermann.de/intelligenter-immobilieneinkauf/ Jetzt für die Immopreneur Masterclass mit Thomas...

Read More »

Great Graphic: Is that a Head and Shoulders Bottom in the Euro?

2018-09-08

by

2018-09-08

EUR Curncy, 6 month chart
The euro recorded the low for the year so far on August 15 near $1.13. We had been anticipating a corrective phase for a couple days before the low was recorded. Recall that the previous Friday, August 10, all the major currencies, but the Japanese yen and Canadian dollar were beyond their Bollinger Bands. The euro recovered toward $1.1735 on August 28, stopping shy of our initial objective of $1.1750.

Read More »

Melting glaciers have little impact on Swiss hydropower

2018-09-08

by

2018-09-08

Although rapidly melting glaciers provide a temporary boost to Swiss hydropower production, their disappearance does not pose a threat, finds a study from the University of Lausanne. Forecasts predict that glacier melt will slow down between 2070 and 2090. But “fears of a threat to power generation are unfounded”, according to a press release published on Thursday by the Swiss National Science Foundation (SNSF), which funded the study.

Read More »

Switzerland Unemployment in August 2018: Unchanged at 2.4percent, seasonally adjusted unchanged at 2.6percent

2018-09-07

by

2018-09-07

Switzerland Unemployment Rate n.s.a., Sep 2013 - Sep 2018
Registered unemployment in August 2018 - According to SECO surveys, at the end of August 2018, 107,893 unemployed people were enrolled in the Regional Employment Centers (RAV), 1,841 more than in the previous month. The unemployment rate remained at 2.4% in the month under review. Compared to the same month of the previous year, unemployment fell by 27,685 people (-20.4%).

Read More »

Jump in Hourly Earnings is Key to US Jobs, while Canada adds 40k Full-Time Positions

2018-09-07

by

2018-09-07

The 201k rise in US non-farm payrolls edged above the median forecasts, but the 50k downward revision to the past two-months removes the gloss.   It is the first August report in seven years that the initial estimate was above the Bloomberg median.  The most important part of the report was the 0.4% jump in hourly earnings, lifting the year-over-year rate to a new cyclical high of 2.9%.

Read More »

FX Daily, September 7: Emerging Markets Stabilize While Euro Shrugs Off Disappointing Data

2018-09-07

by

2018-09-07

The global capital markets are finishing the week on a more stable note than it began.  Indeed, since the middle of the week, many of the besieged emerging market currencies, like the South African rand, Turkish lira,  and Argentine peso have posted some corrective upticks.  Today, the MSCI Emerging Market Index is snapping a seven-day slide register a modest gain, ahead of the Latam session.  

Read More »

India’s Aurobindo buys Sandoz US assets from Novartis

2018-09-07

by

2018-09-07

Swiss pharmaceutical company Novartis announced the divestment of its dermatology and generic tablet portfolios of Sandoz US to India’s Aurobindo Pharma for a $900 million (CHF870 million) cash payment. A possible performance-related payment of $100 million could be added to the purchase price, the Swiss AWP financial news agency reported.

Read More »