According to Marie Owens Thomsen, chief economist at CA Indosuez, we should not focus solely on decisions by the central banks. If economies are growing above potential, governments should turn to structural reforms rather than relying on monetary policy.
The price of oil has been going down for weeks, something the economist and energy expert Cornelia Meyer attributes to the ongoing trade tensions. Higher tariffs and threat of economic sanctions are putting a break on shipping and limiting growth in emerging markets, which could eventually affect global growth. Meyer also stresses that the extra supply decided in June by OPEC and non-OPEC countries is adding pressure on oil prices.
Cédric Tille, professor for international economics at the Graduate Institute Geneva, tells CNNMoney Switzerland that he remains cautious about Bitcoin. He still hasn’t seen a specific advantage the cryptocurrency has over the existing payment tools. Tille also explains how teaching has changed since the 2008 financial crisis.
Christian Gattiker is head of research at Julius Baer, a position that he considers a dream job. As the Swiss strategist tells Ana Maria Montero, it allows him to stay close to the issues that matter most in the economy. And, he adds, he likes to keep a few surprises up his sleeve.
Cyril Demaria, head of private markets at Wellershoff & Partners, argues that electronic payment systems aren’t perfect and should not replace cash. He starts by giving his opinion on the new 200 Swiss franc banknote.
Marie Owens Thomsen, chief economist at Indosuez Wealth Management, assesses the crisis in Turkey and believes the country will eventually need some external support. She’s not concerned it will have a major impact on Switzerland, as the Swiss National Bank will step in to prevent the appreciation of the Swiss franc.
When it comes to commuting to work, people often ponder: What is too far? What is too short? Is there ever a "too short"? Rudolf Minsch is the chief economist of economiesuisse and someone who commutes from Klosters to Zurich. He tells Martina Fuchs that he learned to love his own daily commute thanks to the SBB's WiFi mobile hotspots. "The easy solution is to work during the commute so I don't lose so much time," he says. As a nature lover, he also explains that he's pro blockchain but against cryptocurrencies due to environmental concerns and their high energy consumption.
Ronald Wildmann never imagined a career in finance, but his entrepreneurial ambitions led him to found Research Partners, a firm that carries out independent research on Swiss small and mid-cap businesses. He says that in order to be successful, he must remain completely detached from the companies he works with.
The crisis in Turkey has sent global markets reeling over the past few days, and the ripple effect has been felt in emerging markets as investors flock to safer havens. But what could be the impact on Europe? Hansueli Jost, Euroland equity fund manager at GAM, says that the impact cannot be that big. He begins by explaining a bit what a value fund is.
Peter Rosenstreich, head of market strategy for Swissquote, was one of the first analysts to be a guest on the Living Markets. Ana Maria Montero sat down with him as part of our special series where we get to know the personal side of our regular guests and discovered more about his love of “learning on the fly.”
Christian Gattiker, head of research at Julius Baer, describes the economic plan in Turkey as “not credible.” In his view, the country will have to go through a recession to turn things around, and the sooner it tackles its overspending issues, the less severe the recession will be. Meanwhile, the crisis that triggered the lira’s plunge is spreading in Europe, with other emerging economies also coming under pressure. However, Gattiker sees no danger of a repeat of the Greek situation, nor of the emerging markets crisis of the 1990s.
Markus Will, senior economist at the University of St. Gallen, explains the Turkish lira is plummeting because of governance issues. He also draws parallels between the Greek debt crisis and the exposure of some eurozone banks to Turkey. Regarding ongoing labor negotiations between Switzerland and the EU, Will remarks that Switzerland’s weakness is that it doesn’t have one common view of what the country wants from Europe, making negotiations with Brussels more difficult.
He started his career as a bank apprentice in Paris, hanging out in the trading room and grappling with the question of why bond prices go down when inflation goes up. Several years and degrees later, Gero Jung moved on to become chief economist at Mirabaud Asset Management. As he shared with Ana Maria Montero, economics is a passion rivaled only by his love for family – and one very special collection.
For Esty Dwek, senior investment strategist at Natixis Investment Managers, the apple doesn’t fall far from the tree: with parents in the finance industry, going into the field was a natural step. Preferring to pay in cash is also in her blood, because as she says, she is Swiss after all.
The latest job market figures show that the Swiss economy is in good shape, says Rudolf Minsch, chief economist at economiesuisse, a large federation of Swiss companies. The unemployment rate in July was stable at 2.4% compared to more than 6% in the European Union. With wage negotiations in Switzerland underway, Minsch agrees with granting a pay raise, but mostly because inflation is coming back. He also says no agreement with the EU will be reached in the near future.