Ralph Weidenmann, Partner
US business metrics: Turnaround or one-time outlier? Cypriot savers: Rule or exception? Switzerland: How long until banking secrecy dies? In the wake of largely positive data on the American economy, there was a sudden rush of negative news in labor market metrics (non-farm payrolls, new jobs created), in retail sales, and in the ISM Purchasing Manager’s Index. But taking the >>
Cyprus is the next EU country that needs financial support. China’s leadership must define priorities. Once again, an EU member – Cyprus this time – needs to be bailed out. The EU summit ratified a package worth 10 billion euros for Cyprus, but this amount is far lower than what the island nation asked for. Part of the deal was >>
The German economic engine sees GDP shrink. Real estate bubble in Switzerland? Surprisingly, Japan’s GDP declined by 0.1 percent in the fourth quarter of 2012. Thus, the massive central bank interventions designed to depreciate the yen did not have the intended effect. Weakness in Germany Initial jobless claims in the USA showed an unexpectedly significant drop to 341,000 (see graph). >>
China seems to have crossed the economic trough and is poised for an upswing. USA wins time but not the battle. Bad start for Merkel ahead of the 2013 elections. The Swiss economy will benefit from the – temporary? – weakness of the franc. Even though there have been calls to raise the minimum exchange rate to 1.25, this is >>
Urgently needed capital adequacy improvement among globally active banks delayed: The USA opts out. European Banking Authority as a central monitoring body that should prevent the next financial crisis. With the appointment of Peer Steinbrück as chancellor-elect, Germany’s 2013 election campaign already began in December 2012. But the capsized taxation agreement with Switzerland is regarded as the actual harbinger of >>
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