Tag Archive: newslettersent

Great Graphic: Fed, ECB, and BOJ Balance Sheets

2017-06-23

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2017-06-23

This Great Graphic composed on Bloomberg shows the balance sheets of the Federal Reserve, the European Central Bank, and the Bank of Japan as a proportion of GDP.

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Switzerland most expensive in Europe, but not for everything says new study

2017-06-23

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2017-06-23

Few who have visited or lived in Switzerland will be particularly surprised to hear that Switzerland is the most expensive place in Europe. However the price differences are quite eye opening. The recently published Eurostat price level study ranks Switzerland as the most expensive overall, well ahead of second and third placed Iceland and Norway.

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Retail Sales Weren’t All That Bad, Meaning They Were The Worst

2017-06-23

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2017-06-23

Retail Sales All Weak
Taken in comparison to the last few years, today’s retail sales report wasn’t that bad. Total sales for May 2017, including autos, grew by 5.17% year-over-year (NSA). That was the highest growth rate since last February. The 6-month average is now just shy of 4%, the best since early 2015. It is clear the US economy has shrugged off the effects of last year’s downturn.

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FX Daily, June 22: Greenback Goes Nowhere Quickly, While Yen Remains Bid

2017-06-22

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2017-06-22

The summer doldrums begin early. The US dollar is little changed against most of the major currencies. Bond yields are mostly one-two basis points lower, and equity markets are mixed but with a downside bias. Oil prices slump more than 2% on Tuesday and again on Wednesday. This is weighing on bond yields and equities.

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Swiss Trade Balance May 2017: Foreign Trade is Strengthening

2017-06-22

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2017-06-22

Switzerland Trade Balance, May 2017
In May 2017, Swiss foreign trade was dynamic. Adjusted for working days, exports increased by 7.5% and imports by 8.7%. Chemicals and pharma boosted growth in both directions. The balance of trade closed with an impressive surplus of 3.4 billion francs.

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For the first time many Swiss commercial apprenticeship positions to be left vacant

2017-06-22

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2017-06-22

Normally commercial apprenticeship positions in Switzerland are snapped up nearly one year in advance. However this year many will be left vacant according to Zurich newspaper NZZ am Sonntag.

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Swiss cities ranked among world’s most expensive

2017-06-22

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2017-06-22

Zurich, Geneva, and Bern are among the top ten most expensive cities in the world for expatriates, according to a survey by consulting company Mercer. Only three European cities remain in the top ten list, all of them in Switzerland. Zurich was ranked fourth, Geneva seventh, and the Swiss capital tenth in the surveyexternal link, published on Wednesday.

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Great Graphic: Selected GDP Performance since 2008 and Policy

2017-06-22

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2017-06-22

This Great Graphic was tweeted by Martin Beck, and it comes from Oxford Economics, using Haver Analytics database. It shows the relative economic growth since 2008 for the US, UK, Japan, and EMU.

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Repeat 2014: Praying Again To The God of ‘Global Growth’

2017-06-22

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2017-06-22

CPI Changes on Energy 2016-2017
One of the more troubling aspects of mainstream commentary in 2014 was its blandness. Statements were made with a purpose but also purposefully avoiding specifics. It was common to hear or read “the economy is improving” without being shown why or how in convincing fashion. After suffering a second bout of weakness in 2012 and 2013, unexpected of course, everyone simply believed those words because why not.

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Wer trägt Risiko für SNB-Schuldenberg: Banken oder Volk? Darum gehts beim Staatsfonds.

2017-06-21

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2017-06-21

Quengelware – wer kennt sie nicht? Ware, die an den Kassen der Einkaufszentren auf Augenhöhe unerzogener Kids aufgestellt ist, damit deren Quengeln Eltern zum Kaufen drängen. Ähnlich beim Schweizer Staatsfonds. Als Quengelpolitik könnte man nämlich die Begehrlichkeiten vieler Politiker bezeichnen, die lauthals deinen solchen Fonds oder sonst etwas Unnützes fordern, um die Aufmerksamkeit der Wählerinnen und Wähler zu erheischen.

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FX Daily, June 21: Heavy Oil Weighs on Yields and Lifts Yen

2017-06-21

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2017-06-21

The US dollar is narrowly mixed against the major currencies. The drop in oil prices (3.3% this week) is seen as one of the factors that may be underpinning the appetite for fixed income, and this, in turn, is lifting the yen. The greenback had approached JPY112 yesterday, but with the drop in oil prices and yields has seen it retreat toward JPY111.00.

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Traffic noise increases risks of heart illnesses and diabetes

2017-06-21

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2017-06-21

Traffic noise from cars, lorries, trains and planes can have negative health consequences, such as increased risk of heart-related illnesses and diabetes, according to a long-term study of the impact of noise pollution on the Swiss population. Researchers taking part in the SiRENE study, funded by the Swiss National Science Foundation (SNF), found that road noise had the greatest impact on cardio-vascular illnesses.

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Novartis chief cools on US after visa crackdown

2017-06-21

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2017-06-21

Novartis has rejected overtures from United States President Donald Trump to increase jobs in the US, citing work visa restrictions as a reason. In a newspaper interview, chief executive Joe Jimenez said Switzerland and Europe were more attractive for the pharmaceutical firm.

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Pope Francis and Angela Merkel: Enemies of European Civilization

2017-06-21

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2017-06-21

Merkel and Pope
Two of Europe’s greatest contemporary enemies recently got together to compare notes and discuss how they were going to further undermine and destabilize what remains of the Continent’s civilization. Pope Francis and German Chancellor Angela Merkel met on June 17, in the Vatican’s Apostolic Palace to discuss the issues which will be raised at a Group of 20 summit meeting in Hamburg, from July 7-8.

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The ‘Dollar’ Devil Shows Itself Again In China

2017-06-21

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2017-06-21

China Treasury Bond Curve
Some economic and financial conditions leave a yield curve as a more complex affair.Then there are others that are incredibly simple.The UST yield curve is the former, while right now the Chinese Treasury curve is the latter.

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Swiss rail experiments with first-class upgrades

2017-06-20

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2017-06-20

Should second-class travellers be upgraded to first for less than cost-price?(KEYSTONE/Urs Flueeler) A trial project on Swiss trains has allowed passengers to enjoy cheap upgrades while relieving congestion in crowded carriages. Debates about fairness have already begun. class='lead-text'>First-class tickets on Swiss trains often cost about twice as much as their second-class equivalents. For example, while a full-price,...

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New Actelion CEO feels adrenaline rush

2017-06-20

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2017-06-20

The American pharmaceutical multinational, which operates more than 250 companies and paid $30 billion to take over the relatively small Actelion, put Jane Griffiths of Britain in charge of running its newest Swiss acquisition.

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The Fed Rate Hike and Gold – Precious Metals Supply and Demand

2017-06-20

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2017-06-20

Whole Food Market
Keith Weiner’s weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

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American Expectations, Chinese Prices

2017-06-20

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2017-06-20

FRBNY Survey Of Consumer Expectations, November 2013 - May 2017
The Federal Reserve Bank of New York has for the past almost four years conducted its own assessment of consumer expectations.Though there are several other well-known consumer surveys, FRBNY adding another could be helpful for corroborating them. Unfortunately for the Fed, it has.

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