NEWSFEED HIGHLIGHTS
- The Change In The Global Policy Environment Will Only Become Clear Over Time
- Persistent Movement In The Euro On Average Has A Multi-Year Impact On Economic Activity And Inflation
- These Effects Will Be Larger Than The Average If Euro Appreciation Is More Due To External Factors
- Domestic Sight Deposits (CHF): 445.0B (prev 446.6B)
- Consumption Has Grown Less Than Expected
- Inflation Risks Are Balanced, ECB Projections Are Coming True
- Uncertainty Level Is Still Very High
FEATURED STORIES
As of Thursday’s close, equities appeared largely unfazed by the US government shutdown. Still, the recent resilience has not altered our view that stocks remain overvalued.
The longer the stalemate between Republicans and Democrats continues, the greater the potential hit to sentiment and the broader economy. Currently, Federal spending accounts for around 23% of GDP, and when combined with state and local outlays, government...
US President Donald Trump said on Monday he was slapping 10% tariffs on imported timber and lumber and 25% duties on imported kitchen cabinets, bathroom vanities and upholstered furniture, with the rate on the latter categories to jump next...
For the second week in a row, the main catalyst in US equity markets were comments by US Federal Reserve Chairman Jerome Powell. As he and others (including this newsletter) have proposed, US equities are “fairly highly valued.” However, his comments on tariff-inducted inflation seemed more prescient.
According to Powell, “Uncertainty around the path of inflation remains high.” As for inflation’s influence...
The 45th Ryder Cup at Bethpage Black begins on Friday, September 26th, but the biennial event is very different from a regular PGA Tour tournament. Below, you can find out everything you need to know about the 2025 Ryder Cup format and scoring.
While a regular PGA Tour tournament is comprised of four straight rounds of individual stroke play, the Ryder Cup is very different. Two teams of 12 players each from the United States and Europe...
Swiss rate-setters are widely expected to hold their key rates at current levels Thursday with annual inflation remaining inside their predetermined range.
An economists’ poll predicted an unchanged Swiss National Bank policy rate of zero percent. This would follow six straight reductions that included cuts of 25 basis points in June and March, and 50bp in December.
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