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Writer's pictureStéphan
Mar 225 min read

#USDCNH 4mos highs / #Crude demand highs / DOJ &EU vs #APPL / #CHF funding / CB's update : turning dovish, SNB gets ball rolling for June cut expectations



  • #AAPL : "Consumers should not have to pay higher prices because companies break the law.".....The Justice Department has sued Apple claiming that the iPhone maker has a monopoly, The US is suing Apple for allegedly using its power in the smartphone sector to quash competition from rivals and limit consumer choice - pretty aggressive move, considering the EU is also investigating under digital laws

  • FED ready to cut, market pricing 50/50 for June, very tolerant (bullish risk assets for now..), we have 401K's on highs, stock markets new highs, house prices all time highs, economic activity pretty strong overall, air travel back to pre covid times, you can even earn 5% on USD deposit >>>> we know why but ...clearly doesn't feel like it everywhere...but roaring 20's! and we now have June rate cuts predictions across markets, as SNB started the ball rolling yesterday

  • #USDCHF breaking .90+ next up .9200-.93 area - SNB cut 25bps and slashed inflation expectations (in many ways undermining CHF, as if they want it softer going forward... #EURCHF higher), Norges steady, BoE dovish shift soon (BoE hawks capitulate! 8-1 split vote to hold), meanwhile Turkish CB raised rates to 50% (infl 67%..), Brazil cuts 50bps to 10.75% and hints at more, Czech CB cut its key interest rate for a third straight time amid falling inflation and an effort to help the economy

  • Japanese Households have over 1 quadrillion yen in savings, equivalent to approximately $7 Trillion, a lot of money to be put to work, eventually.. >> Japan's core inflation accelerates to 2.8%, the first increase in 4 months. Japan's core inflation has now been above the Bank of Japan's 2% target for 23 consecutive months.

  • EU PMI mixed, divergence around manuf and services, though price pressure lower in March, which will get ECB to talk more about a June cut

  • China’s New Loans to Nonbanking Institutions Hit Nine-Year High

  • Vanguard doesn’t believe the Fed will cut interest rates this year

  • The world is using more oil than ever, raising questions about when global consumption will peak

  • #USDCNH sudden spike , rising in tandem with other USD's and following the competitive devaluation of the JPY too ?

  • Swiss salaries: high, stable, yet not enough for many (salaries high, so are costs..!)

  • Sen. Rand Paul (R-Ky.), who sparred with top public health officials in heated hearings about Covid-19 and the government’s response to the pandemic, has found a Democrat to join him in investigating the virus’ origins...will we ever find out exactly ?

 


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That's a lot savings.. to put to work



Johannesburg Faces Unprecedented Water Crisis | TIME terrible state of affairs, good grief







Trouble in paradise? Many in Switzerland have problems

Without a doubt, CHF6,788 is a lot of cash. Indeed, Switzerland is often classified as having some of the highest salaries in the world – includingExternal link for those at the bottom of the scale. Even so, money disappears fast. Zurich and Geneva regularly feature towards the top of “most expensive cities” rankings; the Alpine nation also tops The Economist magazine’s Big Mac IndexExternal link. Add to this tax and pension deductions, high average rents (CHF1,412 per apartment in 2022), public transport costs, and ballooning health insurance costs (CHF360 per month), and the eye-watering salaries don’t seem so high anymore.... our recent trip to Zermatt for a few days, was just insanely expensive, must admit, quite hard to think how 'a normal family of 4' these days can afford a ski holiday up there..


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