August 25, 2016
August 8, 2016
Real assets are at all-time lows relative to financial assets – a nice chart from Merrill Lynch:
May 10, 2016
Revisiting the uncertainty from a year ago, it’s worth asking who owns Greek debt?
May 2, 2016
It’s interesting to see France growing faster than the US last quarter
April 15, 2016
April 7, 2016
Major central banks now hold over USD 7 trillion in QE-purchased assets :
March 18, 2016
Here is how the government debt-to-GDP ratio changed recently for a number of emerging economies :
February 29, 2016
February 24, 2016
The 30yr Swiss government bond yield is probing the 20bp support again. Will the whole Swiss curve push into negative territory at some point?
February 22, 2016
Mortgage borrowing in China hit a new record. Credit in China is flowing again and should cushion the decline – for now…
August 19, 2015
In Switzerland, government bond yields remain firmly in negative territory as deflation sets in. Here is the 10-year yield. The government is making money on its “interest expense” category – time for some fiscal stimulus?
August 16, 2015
August 14, 2015
Turning to China, Credit Suisse shows us which nations are most impacted by China’s devaluation – both as competitors as well as exporters to China.
Here is why some argue China will not go through with a significant devaluation. A weaker yuan increases the debt burden on China’s firms who borrowed in dollars.
August 8, 2015
is the amount spent by Bank of China to support its collapsing stock market…only in July 15 !
August 3, 2015
So far, gasoline prices in the US have remained resilient due to strong demand, as petroleum outperforms other commodity prices.
July 30, 2015
The worst performing emerging market currencies this year :
July 27, 2015
The JP Morgan Emerging Markets Currency Index hit a 13-year low !
July 20, 2015
To make matters worse for the oil market, Iran is unleashing its massive crude oil inventories (in storage). It will take it some time to return to production levels that existed prior to the sanctions, but when it does, the markets are going to be even more oversupplied.
July 3, 2015
Crude oil turned decisively weaker in the last few days. Both fundamental and technical factors are not great.
June 30, 2015
SNB is buying euros to weaken its own currency, the Swiss Franc, is so huge quantities that she has currently the biggest balance sheet (by far) among the major western central banks !