News

10.07.2017

Manipulated Markets

Investors currently face great difficulty in trying to limit risk while desperately searching for higher yields. ZIRP and NIRP have made bonds uninteresting even as central banks continue buying up what is available on the market with the result that yields are kept artificially low. Central bank acquisitions on the stock market have pushed equity prices so high that new records have been set. David Stockman is correct in asserting that price discovery has been eliminated.

 
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10.07.2017

Brexit: EU to reject second-class citizenship for europeans workers

Chief negotiator Guy Verhofstadt and leaders of four of the parliament's main groups wrote in a joint letter to newspapers that Britain's plans for the three million EU citizens expecting to remain in the U.K. post-Brexit "fall short" of what they are entitled to and what U.K. nationals are being offered in the EU. EU Parliamentarian Guy Verhofstadt has called proposals put forward by the UK government a "damp squib" which would leave millions of Europeans with "second-class citizenship".

 
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10.07.2017

Norway, Voluntary tax is a failure

In a bold experiment in voluntary taxation, the Norwegian government launched an initiative in June that allowed those who thought their taxes to be too low to make contributions to the state. “The tax scheme was set up to allow those who want to pay more taxes to do so in a simple and straightforward way,” Finance Minister Siv Jensen said in a comment emailed to Bloomberg reporters. “If anyone thinks the tax level is too low, they now have the chance to pay more.”

 
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10.07.2017

Third round for STOXX Europe 600 Banks Index

The STOXX Supersector Europe 600 Banks Index, has been in the last ten years, the worst performer index among he 19 European Supersectors group. Since January 2007 it had performed -63,23%. In the last ten years this Supersector developed three intermediate uptrends, and the las one started one year ago. Looking to the weekly chart from 2006, we can note a first short but strong uptrend in 2009 (1), a second longer uptrend in the period 2012-2015 (2), and a last one started in mid 2016 (3).

 
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07.07.2017

SNB forex currencies settle down in June

The Swiss National Bank's foreign-exchange reserves, accumulated on a massive scale since 2012, dipped slightly last month to 693.5 billion Swiss francs ($721 billion), the SNB said Friday. The figures suggest the central bank has pulled back on its currency intervention efforts. It was the second successive month, despite the central bank’s continued complaints about the effects of an “overvalued” franc.

 
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07.07.2017

ADP releases weaker than expected employment report for June

The US private sector created less than expected jobs last month, suggesting that job creation started to cool after strong gains registered earlier. The ADP National Employment Report released on Thursday showed companies added 158K new jobs to the economy in June, following the preceding month's downwardly revised figure of 230K and surpassing analysts' expectations for an 185K increase.

 
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07.07.2017

Swiss court confirmed Platini 4-year ban

Switzerland's supreme court has dismissed an appeal by former FIFA vice president Michel Platini against his four-year ban for financial wrongdoing. The Swiss Federal Tribunal says the ban imposed by the Court of Arbitration for Sport "does not appear to be manifestly excessive." Platini held little hope of gaining a victory from the Swiss court, according to a statement from the former UEFA president's lawyers in Paris.

 
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07.07.2017

Amazon engineer let strangers make trading with his money

In late May, Amazon engineer Mike Roberts unveiled Stockstream — an experiment in letting viewers of his Twitch livestream play the stock market with $US50,000 of his own money. Twitch is a live streaming video platform primarily used to stream video game play. It was acquired by Amazon for $970 million in 2014. A month later, and the experiment is still going strong. Over the course of 2,125 trades, Stockstream players have voted to pick out a diversified portfolio that now includes a handful of shares in Ford, Costco, Apple, and GE, among many others. 

 
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07.07.2017

EU-Japan trade deal is the answer against Trump protectionism

Japan and the European Union agreed on a free trade pact on Thursday to create the world's biggest open economic area and signal resistance to what they see as U.S. President Donald Trump's protectionist turn. Concluded in Brussels on the eve of meetings with Trump at a summit in Hamburg, the "political agreement" between two economies accounting for a third of global GDP is heavy with symbolism. The deal will rival the size of NAFTA, the free trade accord that the US has with Canada and Mexico — currently the largest one in the world.

 
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07.07.2017

Swiss unemployment brakes in June

Switzerland's unemployment rate remained stable in June, data from the State Secretariat for Economic Affairs showed Friday. The jobless rate held steady at seasonally adjusted 3.2 percent in June, in line with expectations. The rate fell 4% year-on-year, 5’524 less than one year ago.

 
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