News

15.06.2017

Zurich will host the First Finance Museum in Switzerland

Zurich gets a new museum. The ‘Swiss Finance Museum’ will open on 28th June and it will be located at the new head office of Six in Pfingstweidstrasse 110. The ‘Swiss Finance Museum’ will offer visitors a new multimedia exhibition illustrating the origins of our economic system as well as the major significance of the financial market and its infrastructure for our everyday life. The exhibition focuses on stock exchange trading, the capital market, financial instruments, payment transactions and technical objects, demonstrating the exemplary innovation of the financial industry

 
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15.06.2017

SNB maintained its policy: no change rates in June

The Swiss National Bank kept interest rates unchanged at record lows, citing the strong currency and an absence of price pressures and the SNB held its deposit rate at -0.75%. It also affirmed its commitment to wage currency market interventions and reiterated that the franc was “significantly overvalued.” Consensus forecasts were for an unchanged policy.

 
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15.06.2017

Fed raises interest rates, sets plane to reduce balance sheet

For the second time this year,  the Fed hiked interest rates, in a widely expected move that reflects the central bank's confidence in the U.S. economy. After two-day meeting on Wednesday, the Federal Reserve’s Open Market Committee raised their benchmark interest rate by 25 basis points to a range of 1% to 1.25%. The move was essentially a foregone conclusion and the market was pricing in a 99% chance of a rate hike, according to CME Group's FedWatch tool.

 
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15.06.2017

Fingerprint scanner will replace boarding pass, US flight carrier test

Transportation Security Administration (TSA) announced on Tuesday new fingerprint tech will first undergo proof-of-concept tests at Hartsfield-Jackson Atlanta International Airport and Denver International Airport. TSA did not provide an exact start date, but the evaluation will examine how using fingerprints as both boarding pass and identification will function at security checkpoints over the course of four weeks starting mid-June. It would only work for passengers who previously provided fingerprints by enrolling in the TSA PreCheck screening program.

 
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14.06.2017

Ethereum surges at record, ready to the Flippening?

Relative to Bitcoin, Ethereum was an unknown cryptocurrency. Now, it’s reaching record highs after Russian President Vladimir Putin met with its founder. A new cryptocurrency called Ethereum reached another record high, driven by the potentials of the blockchain technology and supports from Russia, Singapore, and Japan. Ethereum is now up over 5,000 percent since the beginning of this year. On Monday, its price hit $407.10, this was a record level which marked a more than 5,001 per cent rise in price since 1 January when ethereum was trading at $7.98.

 
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14.06.2017

Eurozone: employment hits record on quarter

Statistics agency Eurostat said 234.2m people were in work across the EU between January and March, of which 154.8m were in the eurozone area. Employment grew by 1.5 percent on average in the eurozone and by 1.4 percent in the EU. Compared to the previous quarter, employment grew 0.4 percent in both the euro area and the EU during the first quarter of 2017. Eurostat had previously estimated increases of 0.3 percent on the quarter and 1.1 percent on the year.

 
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14.06.2017

Vatican Bank doubles profit in 2016 using prudent approach

The Vatican Bank has reported a more than 100 per cent increase in profits in their latest annual report thanks to what they describe as a “prudent approach” to managing investments. In the 136 page annual report, the Institute for the Works of Religion (IOR) report that net profits for 2016 were €36 million up from €16.1 million the year before, with these gains then being distributed in aid of the Holy See’s mission.     The statement explains it was achieved through “a prudent approach in managing IOR’s investments in a year characterised by high volatility, global political uncertainty due to unexpected outcomes of major electoral events and low interest rates”. The statement shows that in 2016 the IOR served nearly 15,000 clients worldwide, who entrusted to the Institute assets worth € 5.7 billion.

 
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14.06.2017

Art Basel: opportunity to suggest alternative investments for super-rich

The 2017 edition of Art Basel is a welcome distraction from the doom and gloom that has dominated the headlines throughout Europe and the world in recent months.  The art world’s elite collectors were reaching deeper into their pockets this year than they have for at least the past two editions of the fair. Just hours into Tuesday’s VIP preview, many dealers were reporting multiple sales in the seven- and eight-figure range—a welcome reappearance of a phenomenon that had been rare at art fairs since the market’s most recent peak in 2014.

 
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14.06.2017

USA Grains Market in June 2017 – Will Strong US Dollar or Weather Drive Volatility?

Dan Gramza gives Picking Alpha a brief review of the USA grains markets and what June 2017 will bring to the markets.  Q.: Do you think there are grains or other Agri contracts that were negotiated while Donald Trump was visiting Saudi Arabia? D.G.: The information we have so far is the primary focus was on financial agreements for defense, technology, and energy. I have not seen any information regarding the agricultural markets as part of the discussions.  It is important to remember that the budget is the president suggestion and after Congress gets through with it, the final budget rarely ever looks like what the president has suggested.

 
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14.06.2017

Expert Commentary: Focus on risks to eurozone

According to the latest reports, the European economy grew at a stronger pace than the US economy did. Do you agree that further trend is going to be the same? I do not think so, though it is mostly because the US is likely going to pick back up again. What we saw in the first quarter, and this is something we have seen over the past few years, is that the US has a relatively weak first quarter. This could mean that growth is not going to be as spectacular as it has been over the past years in the United States. Nevertheless, I would say that, overall, the US economy is likely to pick up steam again in the Q2 and Q3. On the other hand, the Euro zone economy is performing quite steadily, while growth is sweeping quite robust at the moment. Still, I do not think that it will be able to keep up with the pace that we have seen in the United States. Currently, we expect the Euro zone growth to come in just under 2% over the year, while we think the United States GDP could hit 2.3% or maybe even 2.5% in 2017.

 
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Events


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    Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor

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