Potential Market Crash Ahead, Axel Merk Warns
The portfolio manager argues that U.S. recovery is based on "asset price inflation," and that a Fed pullout could send everything tumbling.
Stolid Switzerland’s Different Path
Both the U.S. and Switzerland are pulling out of the post-2008 global economic slump on the wave of speculative bubbles. But while Washington is stoking its bubble, hoping for faster growth, the Swiss are working to prevent theirs from getting out of hand.
Roubini: Sequester Could Mean Another Downgrade
Perma-pessimist Nouriel Roubini says that despite efforts to downplay the effects of the coming automatic spending cuts, the impact will be significant.
Roubini: Five Economic Risks for 2013
Nouriel Roubini expects a "multi-speed recovery" with “painful deleveraging” in most developed economies, he wrote in a Project Syndicate article.
Swiss Forecast Cut; Franc Cap Remains
The Swiss National Bank has cut its growth forecast for the country’s economy, anticipating a bigger drop in consumer prices as well, and is holding firm on its cap on the franc’s growth against the euro.
New Hire Roundup: Morningstar Adds to Fund Research Team
This week in new hires, Morningstar announced six appointments for its fund analyst research team; James Machuga joined Merk Investments; and Philipp Hildebrand was named vice chairman at BlackRock.
Europe’s Crisis Focus Shifts From Greece to Spain
Concerns eased a bit over the possibility of a Greek exit from the euro zone as Saturday polls showed rising support for pro-bailout parties in that country. But attention turned to Spain as earlier estimates of funding needed for a bailout of its largest bank looked to be seriously undervalued.
Battle Over Swiss Franc Ahead
After the Swiss frank breached a ceiling set by the country’s central bank last September, the bank’s interim chairman said that it would defend the currency. Markets are wondering just how far he will go.
At FPA San Diego, Currency Manager Merk Says No ‘Safe’ Assets Left
Currency fund manager Axel Merk says investors need to throw out the risk-free component of their portfolio, as there is no such thing as a “safe” asset anymore.
Swiss Franc Tumbles Against Euro as National Bank Defends Currency
The Swiss National Bank on Tuesday stepped in to impose a ceiling on the exchange rate of the national currency on Tuesday, causing the franc to halt four straight days of gains and fall the most ever against the euro.