Recent Publications

  • What’s Up With Gold?

    While the #gold price is languishing around $1,650 per ounce (-10% so far in 2022), interesting things happened in Q3 in regards to physical demand. But first, a quick look at where the gold price gets determined and where it is being traded. Gold futures, the most liquid gold-linked instrument, trade at the COMEX (Commodity Exchange) in…

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  • The Little Bank That Lost 17% of GDP

    It’s true. The #Swiss National Bank (SNB) lost CHF 141 billion in the first 9 months of 2022. This equals to 17% of Swiss GDP (around CHF 800 billion): How could this happen? Around half of losses (CHF 70 billion) came from fixed income securities (as global bond prices fell). CHF 54 billion were losses in equities,…

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  • Inflation Insights – US Wage Growth

    The US Bureau of Labor Statistics (BLS) publishes wages by sector. Can we see any hints of a slow-down in #inflation? Let’s have a look. In this chart, nominal hourly pay by sector, you can clearly see the recent acceleration in wages affecting all sectors in recent months: But, since all nominal time series go exponential…

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  • Elementum Curabitur Vitaenunc Sedvelit

    Elementum Curabitur Vitaenunc Sedvelit

    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Scelerisque purus semper eget duis. Quis blandit turpis cursus in hac habitasse platea. Pellentesque eu tincidunt tortor aliquam nulla facilisi. Sed cras ornare arcu dui vivamus arcu felis. Cursus euismod quis viverra nibh cras pulvinar mattis…

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  • Tellus Molestie Nunc Non Blandit Massa

    Tellus Molestie Nunc Non Blandit Massa

    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Scelerisque purus semper eget duis. Quis blandit turpis cursus in hac habitasse platea. Pellentesque eu tincidunt tortor aliquam nulla facilisi. Sed cras ornare arcu dui vivamus arcu felis. Cursus euismod quis viverra nibh cras pulvinar mattis…

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  • Massa Odneque Aliquam Vestibulum Morbi

    Massa Odneque Aliquam Vestibulum Morbi

    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Scelerisque purus semper eget duis. Quis blandit turpis cursus in hac habitasse platea. Pellentesque eu tincidunt tortor aliquam nulla facilisi. Sed cras ornare arcu dui vivamus arcu felis. Cursus euismod quis viverra nibh cras pulvinar mattis…

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  • Porta Non Bulvinar Neque Laoreet Suspendisse

    Porta Non Bulvinar Neque Laoreet Suspendisse

    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Scelerisque purus semper eget duis. Quis blandit turpis cursus in hac habitasse platea. Pellentesque eu tincidunt tortor aliquam nulla facilisi. Sed cras ornare arcu dui vivamus arcu felis. Cursus euismod quis viverra nibh cras pulvinar mattis…

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  • Adipiscing Elit Pellentesque Habitant Monroe

    Adipiscing Elit Pellentesque Habitant Monroe

    Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Scelerisque purus semper eget duis. Quis blandit turpis cursus in hac habitasse platea. Pellentesque eu tincidunt tortor aliquam nulla facilisi. Sed cras ornare arcu dui vivamus arcu felis. Cursus euismod quis viverra nibh cras pulvinar mattis…

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