Tag Archive: newsletter

Swiss banks bow to pressure to delay half of dividend payments

2020-04-11

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2020-04-11

Switzerland’s two largest banks, UBS and Credit Suisse, have asked shareholders to accept a delay of several months for half of their dividend payments this year. The move follows a request from the financial regulator to hold on to more cash during the coronavirus pandemic.

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The World Has Changed More Than We Know

2020-04-11

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2020-04-11

Put another way: eras end. While the mainstream media understandably focuses on the here and now of the pandemic, some commentators are looking at the long-term consequences. Here is a small sampling: While each of these essays offers a different perspective, let's focus on the last two: Ugo Bardi's essay on Hyperspecialization and the technological responses described in the MIT Technology Review essay.

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How Risk-Based Healthcare Could Make Us Healthier

2020-04-11

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2020-04-11

It is generally the case that simple concepts in nature produce incredible complexity. This applies to the genome, where simple base pairs have evolved to express complex and multifunctional instructions that would take thousands of lines of code for any human to create. This applies to the economy, where simple ideas such as the price system become infinitely complex at scale.

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Jp Cortez joins Phillip Kennedy on Kennedy Financial

2020-04-11

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2020-04-11

Sound Money Defense League Policy Director Jp Cortez joins Phil Kennedy of Kennedy Financial to discuss sound money on the state and federal level, and the harms of inflation.

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Monetary Metals Leases Gold to Brite Metals

2020-04-11

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2020-04-11

Scottsdale, Ariz, April 7, 2020—Monetary Metals® announced today that it has leased gold to UK-based Brite Metals. The lease enables Brite Metals to buy gold from Latin American gold miners, and sell it to European refiners.

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Bleibe ich in P2P-Kredite investiert? ??

2020-04-11

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2020-04-11

Aktuell ist viel los bei P2P-Krediten, viele Leute ziehen aus Angst und Panik und teilweise auch aus berechtigten Gründen ihr Geld ab. Aber wie werde ich mit meinen Investments fortfahren? P2P-Kredite sind auch schon vor der Krise ein extrem risikoreiches Investment gewesen. Ich habe diese nur als Beimischung mit einem sehr kleinen Prozentsatz meines Vermögens genutzt.

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FX Daily, April 10: Eight Things to Know about Global Capital Markets on Good Friday

2020-04-10

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2020-04-10

Most of the financial centers in Europe and North America are closed today for the Good Friday holiday.  Many markets in Europe will also be closed on Monday. Here is a summary of key developments.

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USD/CHF Asia Price Forecast: Greenback holds above 0.9700 vs. Swiss franc

2020-04-10

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2020-04-10

USD/CHF daily chart
USD/CHF’s bull trend remains intact as the spot holds above the 0.9700 figure. The level to beat for bulls is the 0.9800 resistance. USD/CHF is trading below the 100 and 200 SMA on the daily chart as the market is consolidating the last leg up. 

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Switzerland’s population continued to increase and age in 2019

2020-04-10

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2020-04-10

T1 Bilanz der ständigen Wohnbevölkerung, 2005-2019
09.04.2020 - At the end of 2019, Switzerland had a population of 8 603 900, i.e. 59 400 persons (+0.7%) more than in 2018. Since 2017, the population has grown more slowly than in previous years. Zurich recorded the greatest increase while Appenzell Innerrhoden, Neuchâtel, Nidwalden and Ticino saw their population decline.

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Swiss economy could lose up to CHF35 billion to pandemic

2020-04-10

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2020-04-10

Coronavirus will cost the Swiss economy CHF22 billion ($22.7 billion) in lost productivity in the best-case scenario, economists have warned. Losses could easily mount up to CHF35 billion between March and June. A nationwide lockdown of non-essential high street shops and services has been accompanied by partial closures of industrial plants in some cantons.

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Lessons from Singapore?

2020-04-10

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2020-04-10

Singapore has been hailed for its quick response to the coronavirus that limited initial infections, but the outlook is shifting.  Despite their early success, they will have to revert to a lockdown.  Can Singapore’s experience offer any lessons for European and the US policymakers?

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Nothing Is What It Seems

2020-04-10

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2020-04-10

My latest interview about Corona, Liberty, Private Property, Authoritarism, and a fear-mongering global media campaign, which I call borderline criminal [embedded content]

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The Real Cost of Anti-Price-Gouging Laws

2020-04-10

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2020-04-10

Supply and demand diagram
As has happened before with many natural disasters, the COVID-19 panic is leading to complaints of shortages and “gouging,” which about two-thirds of US states have passed laws against (often in terms so vague that it makes any enforcement discretionary, and thus discriminatory). But rather than complaining of shortages and gouging, critics should realize that “gouging” is the solution to shortages, not a cost in addition to them.

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FX Daily, April 9: Three Deals Needed ahead of Holiday Weekend

2020-04-09

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2020-04-09

Overview: Three deals need to be struck. First, the Eurogroup of finance ministers needs to reach an agreement of proposals for joint action to the heads of state. Second, oil producers need to cut output if prices are to stabilize. Third, the US Congress needs to strike a deal to provide more funding. Investor seems hopeful, and risk appetites are have lifted equities.

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FINMA begrüsst Dividenden-Schritt der Grossbanken

2020-04-09

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2020-04-09

Die Eidgenössische Finanzmarktaufsicht FINMA begrüsst den heute von der UBS Group AG und der Credit Suisse Group AG angekündigten Schritt, trotz deren Position der Kapitalstärke jeweils die Hälfte der geplanten Dividendenausschüttung für das Jahr 2019 zu verschieben.

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Swiss firm helps reduce shortage of disinfectant in Bavaria

2020-04-09

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2020-04-09

The Swiss chemical company Clariant has started monthly production of two million litres of disinfectant at its facilities in neighbouring Germany amid the coronavirus pandemic. In a joint venture with Germany’s CropEnergies, Clariant is using its available infrastructure in Bavaria to blend the necessary ingredients, notably ethanol, into disinfectant, the Swiss company said.

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Cool Video: OIl, ECB, and Animal Spirits

2020-04-09

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2020-04-09

I had the privilege to join Ben Lichtenstein at TD Ameritrade (from a remote location) this morning to talk about the global markets.  I make four points.  First, the reversal of the S&P 500 yesterday set the tone for Asia and Europe.  Volatility throughout the capital markets remains elevated, even if off the peaks.  

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Dollar Firm as Europe Fails to Deliver

2020-04-09

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2020-04-09

The dollar is stabilizing; reports suggest the White House is developing a plan to reopen the US economy sooner rather than later. Both Hong Kong and Singapore just tightened restrictions on gathering and movement. FOMC minutes for the March 15 decision will be released today.

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All Crises Are Local

2020-04-09

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2020-04-09

South Dakota is not New York City. A seemingly innocuous statement, made last Wednesday by Governor Kristi Noem in response to calls for her to issue a coronavirus shutdown across a state with the motto "Under God the People Rule." South Dakota, after all, is one of the least densely populated states in the vast American West.

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Fragile, Not Fortified

2020-04-09

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2020-04-09

Credit Spreads, 2017-2020
On Sunday, Argentina’s government announced it was postponing payment on any domestically-issued debt instruments denominated in foreign currencies. That means dollars, just not Eurobonds. At least not yet. In response, ratings agencies such as Fitch declared the maneuver a distressed debt exchange.In other words, technically a default.

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