As of yesterday's deadline, it looks like US citizens decided that keeping a numbered account in a private bank is more scary than paying taxes. Switzerland's economy is highly dependent on financial services, and an estimated one-third of all offshore accounts are held there. Sounds like doom for the Swiss Market Index (SMI), right?
The United States enjoys funding its ever-increasing debt in its own currency as the dollar, for better or worse, remains the world’s reserve currency. Because the euro and the pound sterling do not enjoy this status, the smaller economies under the European Union's stability pact are having trouble attracting investors for government debt. The only answer is to offer higher yields in order to attract investors...
Announcing EWI's New eBook ...
In this exciting new 45-page eBook, Jeffrey Kennedy shows you – using fresh, real-life market examples – how you can use simple, yet powerful, chart reading techniques to improve your trading.
Download your copy today!
Club EWI Members: Click Here