Tag Archive: newslettersent

Switzerland Unemployment January 2017: Up to 3.7 percent from 3.5 percent, seasonally adjusted unchanged at 3.3 percent

2017-02-09

Switzerland Unemployment Rate Not Seasonally Adjusted January 2017

According to the State Secretariat for Economic Affairs (SECO) surveys, 164,466 unemployed were registered at the Regional Employment Centers (RAV) at the end of January 2017, 5,094 more than in the previous month. The unemployment rate thus rose from 3.5% in December 2016 to 3.7% in the reporting month.

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FX Daily, February 09: Dollar Bounce in Asia is Sold in the European Morning

2017-02-09

by Marc Chandler

2017-02-09

The US dollar is firmer against most of the major currencies in fairly quiet Asian turnover, but is seeing those gains pared in early Europe. The highlights include the RBNZ meeting that left rates on hold, as widely expected. The concern about the strength of the Kiwi saw the market reduce the perceived likelihood of a rate hike. NZD came off.

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Is a Strong or Weak Dollar Good for the US? The $16 trillion Question

2017-02-09

by Marc Chandler

2017-02-09

Dollar movement helps some economic interest and hurts others. From a strategic point of view, the best thing for the US is the market-generated rate. It was an important achievement that the forex market was de-weaponized. Many observers have been crying wolf about a currency war for many years, which may have de-sensitized investors to the threat of a real one.

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Incrementum Advisory Board Meeting, Q1 2017 and Some Additional Reflections

2017-02-09

by Pater Tenebrarum

2017-02-09

The quarterly meeting of the Incrementum Advisory Board was held on January 11, approximately one month ago. A download link to a PDF document containing the full transcript including charts an be found at the end of this post. As always, a broad range of topics was discussed; although some time has passed since the meeting, all these issues remain relevant.

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Cool Video: Around the World with Katie Martin of the Financial Times

2017-02-09

by Marc Chandler

2017-02-09

I am in London as part of a larger business trip. I had the chance today to talk to Katie Martin, who runs Fast FT and is often writing about foreign exchange. They show was live on Facebook. It is about a 22 minute interview and although foreign exchange is the key issue, to get to it we end up talking about many things, including US interest rates, Trump, and even cooking frogs.

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The Colonization of Local-Business Main Street by Corporate America

2017-02-09

by Charles Hugh Smith

2017-02-09

This is what our mode of production optimizes: ugliness, debt-serfdom, and servitude to politically dominant corporations.

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The Central Banks Pull Back: Now It’s Up to Fiscal Policy to “Save the World”

2017-02-08

by Charles Hugh Smith

2017-02-08

Another problem is the rise of social discord, for reasons that extend beyond the reach of tax reductions and increased infrastructure spending. Have you noticed that the breathless anticipation of the next central bank "save" has diminished? Remember when the financial media was in a tizzy of excitement, speculating on what new central bank expansion would send the global markets higher in paroxysms of risk-on joy?

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FX Daily, February 08: EUR/CHF down to 1.630, Swiss Boom Starting?

2017-02-08

by George Dorgan

2017-02-08

The reader might have seen the latest Swiss Consumer Sentiment and the UBS consumption indicator. They suggest that the Swiss boom phase should finally come. I anticipated the boom already in my slides for the CFA Society. The Swiss boom was postponed when the SNB decided to remove the euro peg in early 2015.

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Gold Prices Rising As “World Has Never Been More Uncertain”

2017-02-08

by Mark O'Byrne

2017-02-08

Uncertainty Is At Record Highs 1990 - 2016

Gold prices rising & up 6.6% YTD. Signal “impending market volatility”. World has never been more uncertain (see chart). Fear in Wall Street versus Fear in Washington. Price of ‘plunge protection’ rising even as VIX remains low. Smart money diversifying into gold. Important to watch rising gold and rising bond yields. Gold may prove the “tell”.

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Largest Retail FX Broker FXCM Banned By CFTC, Fined $7 Million For Taking Positions Against Clients

2017-02-08

by Tyler Durden

2017-02-08

The CFTC on Monday fined Forex Capital Markets, parent FXCM Holdings LLC and founding partners Dror Niv and William Ahdout to pay $7 million to settle charges it defrauded retail foreign exchange customers and engaging in false and misleading solicitations. As part of the settlement, FXCM agreed to withdraw its registration and never seek to register with the CFTC again, effectively banning it from operating in the US.

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Great Graphic: Interesting Sterling Price Action

2017-02-08

by Marc Chandler

2017-02-08

Sterling is having an interesting day. It fell in the face of the US dollar's bounce but has recovered fully. It has not yet traded above yesterday's high (~$1.2510) but it may. It does appear to be tracing out a hammer in Japanese candle stick terms.

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The VIX Will Be Over 100 due to Central Bank Created Tail Risk

2017-02-07

by EconMatters

2017-02-07

We discuss the manner in which Central Banks have destroyed financial markets, and have the stage for what I label as the Red Swan Event in this video. When the Swiss National Bank holds risky Tech stocks in its portfolio, we are in unchartered territory!

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Swiss Consumer sentiment brightens

2017-02-07

by SECO

2017-02-07

Consumer Confidence Survey, January 2017

Consumer sentiment in Switzerland has significantly improved according to the latest survey*. The index has climbed to -3 points, rising above its long-term average. Consumers are clearly more optimistic about where they feel the economy is going as well as being less gloomy about the future development of unemployment and their own financial situation.

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Gold and Silver Divergence – Precious Metals Supply and Demand

2017-02-07

by Keith Weiner

2017-02-07

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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When Government Acts, “Unintended Consequences” Follow

2017-02-07

by Jp Cortez

2017-02-07

In 1850, French economist Frédéric Bastiat published an essay that is misunderstood, or more often, unread, titled, “That Which is Seen, and That Which is Not Seen.” Bastiat brilliantly introduced the idea of opportunity cost and, through the parable of the broken window, illustrated the destructive effects of unintended consequences.

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Expropriation and Impoverishment: “Capitalist” Greece and “Socialist” Venezuela

2017-02-07

by Charles Hugh Smith

2017-02-07

Yesterday I noted that not all assets will make it through the inevitable financial re-set. ( Which Assets Are Most Likely to Survive the Inevitable "System Re-Set"?) Those that are easy to expropriate will be expropriated, and those assets vulnerable to soaring taxes, inflation and currency devaluation will also be hollowed out.

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The Dollar: Real or Nominal Rates?

2017-02-06

by Marc Chandler

2017-02-06

Real interest rates are nominal rates adjusted for inflation expectations.Inflation expectations are tricky to measure. The Federal Reserve identifies two broad metrics. There are surveys, like the University of Michigan's consumer confidence survey, and the Fed conducts a regular survey of professional forecasters. There are also market-based measures, like the breakevens, which compare the conventional yield to the inflation-linked, or protected...

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Gold Bullion Banks To “Open Vaults” In Transparency Push

2017-02-06

by Mark O'Byrne

2017-02-06

LBMA Vaulted Gold in London 2011, 2014, 2015

London Gold Bullion Banks To “Open Vaults” In Transparency Push. London’s gold bullion market, which is centuries old, is said to be seeking transparency with plans to reveal how much gold bullion is held in vaults in and around London city according to gold bullion banks.

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A recent purchase shows how hard it is to trust product packaging

2017-02-06

by Le News

2017-02-06

Volkswagen shocked the world when it was revealed it was cheating on emissions tests on a grand scale. Now some television makers may be gaming the energy efficiency ratings of some of their televisions, according to the Economist.

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Which Assets Are Most Likely to Survive the Inevitable “System Re-Set”?

2017-02-06

by Charles Hugh Smith

2017-02-06

Share of Gross Domestic Income: Compensation of employees,

Your skills, knowledge and and social capital will emerge unscathed on the other side of the re-set wormhole. Your financial assets held in centrally controlled institutions will not. Longtime correspondent C.A. recently asked a question every American household should be asking: which assets are most likely to survive the "system re-set" that is now inevitable?

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