AQUILA DEEP THOUGHTS  02/04/2019
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Increasing trade hostilities and the net withdrawal of central bank liquidity from next year are the main threats to markets.
We use plain language to outline the medium and long term effects of today’s monetary policies on financial markets, the economy, the behavior of market participants and individual freedoms. We show that central banks will have limited policy options when it comes to combatting the next recession. Indeed, there is a good chance the next crash will see a further erosion of market principles, the abolition of cash and a weakening of citizens’ rights.
 
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Deep Thought Monetary Policy...  (pdf)
AQUILA VIEW POINT
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AQUILA NEWS FLASH 05/08/2019
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The Fed cuts its key policy interest rate by 25 basis points. US-China trade tensions ratchet up.
Last week provided a lot of news for markets to digest but investors found little to cheer. While the Fed reduced its key US interest rate by 25 basis points as expected, investors were disturbed by the way this decision was presented. US-China trade hostilities intensified as President Trump announced fresh tariffs.
 
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The feds cuts its key policy interest rate ... (pdf)
AQUILA NEWS FLASH 22/08/2019
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Record-low interest rates, expansionary monetary policies plus the general wish for “competitive” currencies will push gold higher.
Business cycle indicators don’t show any improvement in the world economy. And current trade hostilities could spill over into currency wars. Germany wants to boost government spending in order to support its economy. Gold should do well in this environment.
 
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Record-low interest rates ... (pdf)
AQUILA NEWS FLASH 26/08/2019
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China unveils retaliatory tariffs. At Jackson Hole, FED chair Powell stopped short of mapping out a clear-cut path for policy rates.
On Friday China announced that it will impose new tariffs on a range of U.S. goods and resume auto tariffs in response to the newly announced measures by President Trump. Jerome Powell kept future interest rate cuts squarely on the table.
 
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China unveils retaliatory tariffs ...  (pdf)
AQUILA NEWS FLASH 12/09/2019
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Monetary policy fireworks of the ECB.
The ECB has further eased its monetary policy. President Trump would like to see the Fed also aggressively relax and demands negative interest rates. China and the US are trying to create a good mood for the upcoming negotiations by "showing signs of good will". We think small progress and further reaxation are possible.
 
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fireworks on the ECB  ...  (pdf)
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