Tag Archive: newslettersent

The Swiss National Bank Owns $80 Billion In US Stocks – Here’s The Catch

2017-07-03

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2017-07-03

Switzerland is a small country of just 8 million people, but they make an outsized impact on economics and finance and money. Because Switzerland is considered a safe haven and a well-run country, many people would like to hold large amounts of their assets in the Swiss franc. This makes the Swiss franc intolerably strong for Swiss businesses and citizens. So the Swiss National Bank (SNB) has to print a great deal of money and use nonconventional...

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FX Daily, July 03: Dollar Bounces to Start H2

2017-07-03

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2017-07-03

The beleaguered US dollar is enjoying a respite from the selling pressure that pushed it lower against all the major currencies in the first six months of 2017. A measure of the dollar on a trade-weighted basis fell about 5% in the first half after appreciating nearly 8% in Q4 16.

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Bi-Weekly Economic Review: Draghi Moves Markets

2017-07-03

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2017-07-03

In my last update two weeks ago I commented on the continued weakness in the economic data. The economic surprises were overwhelmingly negative and our market based indicators confirmed that weakness. This week the surprises are not in the economic data but in the indicators. And surprising as well is the source of the outbreak of optimism in the bond market and the yield curve.

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Weekly Speculative Positions (as of June 27): Speculators Scramble to Cover Short Canadian Dollar and Mexican Peso Futures

2017-07-03

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2017-07-03

swiss franc july 03
The net short CHF position has risen from 3k short to 4.7k contracts short (against USD). Speculators bought back previously sold Canadian dollar and Mexican peso futures positions in dramatic fashion in the CFTC reporting week ending June 27.

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FX Weekly Preview: Official Coordination or Is the Market Getting Ahead of Itself?

2017-07-03

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2017-07-03

The consensus narrative sees a coordinated attempt by officials to prepare investors for less accommodative monetary policy. Data from the eurozone and UK may suggest the respective economies are not accelerating. Before getting to the jobs report, the US economic data, like auto sales, may be soft, while the prices paid in the manufacturing ISM may ease.

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FX Weekly Review, June 26 – July 01: Normalization Ideas Weigh on Greenback

2017-07-03

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2017-07-03

EUR/CHF and USD/CHF, July 01
A virus has spread across the markets as the first half drew to a close. Many investors have become giddy. The low vol environment was punctuated by ideas that peak in monetary accommodation is past and that the gradual process of normalization is beginning.

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Chocolate industry makes pact to improve conditions

2017-07-02

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2017-07-02

Switzerland’s chocolate producers have launched the Swiss Platform for Sustainable Cocoa, a joint project to bring about a more sustainable industry and better conditions for cocoa producers.Members of the new sustainable cocoa platform have set and pledged to work towards ten strategic objectives. The key target is one stipulating that by 2025, at least 80% of imported cocoa products should come from sustainable production.The project was...

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Le Système n’est pas libéral. Il est liberticide. Liliane Held-Khawam + les top 5 de la pub en ligne

2017-07-02

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2017-07-02

Cette information est très importante et dépasse le cadre simple du secteur de la publicité en ligne.

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If We Don’t Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable

2017-07-02

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2017-07-02

Wealth Pyramid
Centrally issued money optimizes inequality, monopoly, cronyism, stagnation and systemic instability. Everyone who wants to reduce wealth and income inequality with more regulations and taxes is missing the key dynamic: central banks' monopoly on creating and issuing money widens wealth inequality, as those with access to newly issued money can always outbid the rest of us to buy the engines of wealth creation.

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Brazil’s Reasons

2017-07-02

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2017-07-02

Brazil Eurodollar University
Brazil is another one of those topics which doesn’t seem to merit much scrutiny apart from morbid curiosity. Like swap spreads or Japanese bank currency redistribution tendencies, it is sometimes hard to see the connection for US-based or just generically DM investors. Unless you set out to buy an emerging market ETF heavily weighted in the direction of South America, Brazil’s problems can seem a world away.

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Banks in Switzerland 2016

2017-07-01

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2017-07-01

Overview 2016
Summary of the 2016 banking year. In 2016, 226 of the 261 banks in Switzerland reported a profit, taking total profit to CHF 11.8 billion. The remaining 35 institutions recorded an aggregate loss of CHF 3.9 billion. The result of the period for all banks was thus CHF 7.9 billion.

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Tourism balance of payments 2016: Negative in 2016

2017-07-01

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2017-07-01

T2 Einnahmen und Ausgaben, 2016, Veränderung in Prozent
For the first time in its history, the tourism balance of payments was negative in 2016. Expenditure by Swiss residents during visits abroad exceeded the expenditure of non-residents during their stay in Switzerland. The former spent CHF 16.3 billion abroad in 2016, 3.8% more than in 2015. Expenditure by the latter in Switzerland rose by 1.4% to CHF 16 billion. In an economic climate marked by a strong franc, the tourism balance of payments was CHF...

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Emerging Markets: What has Changed

2017-07-01

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2017-07-01

Stock Markets Emerging Markets, June 28
Chinese President Xi visited Hong Kong for the first time. The US has proposed $1.3 bln of arms sales to Taiwan. The Egyptian government raised fuel and cooking gas prices. significantly as part of the IMF program. South Africa’s parliament has scheduled the no confidence vote on President Zuma. Brazil’s central bank lowered its inflation target. Brazil after President Temer was charged with corruption.

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Swiss Rail to launch app that lets you pay when you arrive

2017-07-01

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2017-07-01

CFF Smartphone
Swiss Rail plans to test a new smartphone app that will charge you when you arrive. The app will automatically search for the cheapest fare once the journey has ended, promising users the lowest possible fare. The new app, which will be added to Mobile Preview, will be tested in 2018.

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Basic China Money Math Still Doesn’t Add Up To A Solution

2017-07-01

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2017-07-01

China Basic Money Math
There are four basic categories to the PBOC’s balance sheet, two each on the asset and liability sides of the ledger. The latter is the money side, composed mainly of actual, physical currency and the ledger balances of bank reserves. Opposing them is forex assets in possession of the central bank and everything else denominated in RMB.

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Work is for Idiots

2017-07-01

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2017-07-01

Supping with the IMF
Disproportionate Rewards. The International Monetary Fund reported an unpleasant outlook for the U.S. economy on Wednesday.  The IMF, as part of its annual review, believes the U.S. economic model isn’t working as well as it could to generate shared income growth.

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FX Daily, June 30: Greenback Stabilizes

2017-06-30

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2017-06-30

The US dollar has been battered this week amid a shift in sentiment seen in how the market responded to comments mostly emanating from the ECB's annual conference. It is not really clear that Draghi or Carney gave new policy indications.

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KOF Economic Barometer June: Prospects Are Brightening again

2017-06-30

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2017-06-30

KOF Economic Barometer, May 2017
In June 2017, the KOF Economic Barometer rises by 3.5 points (from revised 102.0 in May) to 105.5. It thus largely recovers from the substantial decrease in the previous month. Accordingly, the short-term outlook for the Swiss economy suggests above-average growth rates.

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Chocolate industry makes pact to improve conditions

2017-06-30

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2017-06-30

Members of the new sustainable cocoa platform have set and pledged to work towards ten strategic objectives. The key target is one stipulating that by 2025, at least 80% of imported cocoa products should come from sustainable production.

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London Property Bubble Bursting? UK In Unchartered Territory On Brexit and Election Mess

2017-06-30

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2017-06-30

UBS Global Real Estate Bubble Index
Is the London property market heading for tough times? The most recent housing figures and a new Bank of England report suggest it may well be. Recent figures show that 77% of London houses sold in May went at below asking price, up from 72% in April.

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