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Ohio has introduced House Bill 703, aiming to establish a Bitcoin treasury to safeguard state funds against potential devaluation of the US dollar. This initiative positions Ohio as a frontrunner in the adoption of Bitcoin as a strategy to combat currency inflation.
Mortgage interest rates in Switzerland have significantly decreased, with ten-year fixed-rate mortgages averaging 1.56% and two-year rates hitting a low of 1.30%. This decline follows the Swiss National Bank's recent interest rate cut, although further reductions into negative territory are deemed unlikely. Historically, rates have not dipped below 1.00% even during the SNB's ultra-loose monetary policy phase.
The Federal Reserve is expected to announce its third interest rate cut of the year, lowering the target range to 4.25-4.50%. Investors will closely watch the dot plot for future rate expectations and Fed Chair Jerome Powell's comments on economic policies under President-elect Trump, as resilient growth and inflation concerns shape the outlook. A deceleration in rate cuts is anticipated for 2025, with opportunities for investors in US equities and alternative investments amid potential market volatility.
On December 17, Bitcoin reached a new all-time high of $107,756.83, driven by institutional investments and market optimism, particularly following MicroStrategy's inclusion in the Nasdaq 100. Analysts predict further price increases due to favorable market conditions and potential political shifts with Donald Trump's return to the White House in 2025. With rising investor sentiment and technological advancements, Bitcoin may soon break its record again.
Indian coffee brands are raising prices, with Nestle implementing its fourth price hike, leading to increased costs for instant coffee. Supply risks, exacerbated by heavy rains and droughts, are driving global coffee prices higher, while Arabian coffee levels reach their highest since 1977.
Gold prices have recently dipped, remaining about $150 below their late October peak, largely due to a strong dollar and anticipated high interest rates. UBS forecasts a rebound in 2025, targeting $2,900 per ounce, driven by central bank purchases, increased demand for safe-haven assets, and a gradual decline in interest rates. The firm expects official gold purchases to rise to 982 metric tons in 2024, reflecting ongoing geopolitical uncertainties and a shift towards gold as a portfolio hedge.
Silver prices are currently hovering around $30 as investors await the Federal Reserve's interest rate decision, expected to be a cut of 25 basis points. The market is cautious ahead of Jerome Powell's press conference, with upcoming US GDP and price data also in focus. A failure to meet expectations at the Fed meeting could negatively impact silver prices, while a continued upward trend may target the October high of $35.
IG
The cryptocurrency market experienced a 3% decline, dropping to approximately $3.65 trillion on December 18, following Bitcoin's fall from its all-time high of $108,364. This downturn, driven by panic selling and massive liquidations totaling $419 million, reflects broader risk-off sentiment amid anticipation of the Federal Reserve's interest rate decision. A bearish divergence in market trends suggests potential further declines, with support around $3.50 trillion.
Rents for new or re-rented apartments in Switzerland rose by 0.3% in November, reversing a similar decline in October, with an annual increase of 3.1%. Notable regional variations include a significant drop in Graubünden (-4.4%) and strong gains in Schwyz (+9.7%) and Zug (+7.4%). In Swiss cities, Lugano saw a slight monthly decline (-0.1%) but a yearly increase of +6.5%, while Lucerne led with a +7.0% rise over the past year.
UBS strategists anticipate a continued rally in gold prices, projecting them to reach $2,900/oz by the end of 2025. Key drivers include central banks' ongoing gold accumulation, rising investor demand for safe-haven assets amid geopolitical uncertainties, and expected lower interest rates. They recommend a 5% allocation to gold in USD-based balanced portfolios as a diversifier.
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