Christian Kopf
@christiankopf.bsky.social
Head of Fixed Income at an asset management firm. Writing in personal capacity only.
Standing ovations for Nasser Al-Kidwa and Ehud Olmert as they set out their vision at the national convention of @gruene.de “Palestinians deserve self-determination. The PA needs to govern Gaza. Two states based on the 1967 borders are in the national interest of Israel”, Olmert said.
November 29, 2025 at 10:45 PM
Standing ovations for Nasser Al-Kidwa and Ehud Olmert as they set out their vision at the national convention of @gruene.de “Palestinians deserve self-determination. The PA needs to govern Gaza. Two states based on the 1967 borders are in the national interest of Israel”, Olmert said.
Address by Dmytro Kuleba, Ukraine’s former foreign minister, to the national convention of @gruene.de: "In the first, dark days of Russia's invasion, when I had to call someone in Germany, I would call the Green Party. When Ukraine and Europe stand together, neither Trump nor Putin can take us down“
November 29, 2025 at 9:33 PM
Address by Dmytro Kuleba, Ukraine’s former foreign minister, to the national convention of @gruene.de: "In the first, dark days of Russia's invasion, when I had to call someone in Germany, I would call the Green Party. When Ukraine and Europe stand together, neither Trump nor Putin can take us down“
Sky over Adams Morgan
October 15, 2025 at 12:31 PM
Sky over Adams Morgan
Der Himmel über Berlin
October 13, 2025 at 5:37 PM
Der Himmel über Berlin
Aber wir hatten die Pflicht, menschlich zu handeln, auch wenn es mit Kosten verbunden ist. Hätten Deutsche stattdessen im Sommer 2015 auf einreisende Flüchtlinge geschossen, dann hätten wir und unser Land viel größeren Schaden genommen. Angela Merkel hat es auf den Punkt gebracht. (7/7)
September 6, 2025 at 12:23 PM
Aber wir hatten die Pflicht, menschlich zu handeln, auch wenn es mit Kosten verbunden ist. Hätten Deutsche stattdessen im Sommer 2015 auf einreisende Flüchtlinge geschossen, dann hätten wir und unser Land viel größeren Schaden genommen. Angela Merkel hat es auf den Punkt gebracht. (7/7)
Hard for the EU to respond to Trump’s 30% tariffs, since the US exports mainly fossil fuels and over-invoiced pharma and F-35s. Best to focus on taxing US digital services exports. And maybe a 100% tariff on US movies that get a one-star review by both the Guardian and the FT?
July 12, 2025 at 4:20 PM
Hard for the EU to respond to Trump’s 30% tariffs, since the US exports mainly fossil fuels and over-invoiced pharma and F-35s. Best to focus on taxing US digital services exports. And maybe a 100% tariff on US movies that get a one-star review by both the Guardian and the FT?
The chairwoman of the Green Party, @franziskabrantner.de, is calling on the German government to halt arms exports to Israel: "The violation of international obligations is so blatant that German weapons which could be used in Gaza must not be supplied any more."
June 28, 2025 at 8:29 AM
The chairwoman of the Green Party, @franziskabrantner.de, is calling on the German government to halt arms exports to Israel: "The violation of international obligations is so blatant that German weapons which could be used in Gaza must not be supplied any more."
A leap into the unknown in a photograph by Sebastião Salgado, one of the greatest artists of our time.
May 23, 2025 at 3:58 PM
A leap into the unknown in a photograph by Sebastião Salgado, one of the greatest artists of our time.
Am kommenden Donnerstag laden die @gruene.de #Hochtaunus zu einem Vortrag und Gespräch über Grüne Geldanlagen ein. Wie geht das an diesem irren Kapitalmarkt? Und gibt es Alternativen, wenn man nicht in fossile Energien anlegen möchte? Bitte meldet Euch bei kreisverband@gruene-hochtaunus.de an.
May 18, 2025 at 11:44 AM
Am kommenden Donnerstag laden die @gruene.de #Hochtaunus zu einem Vortrag und Gespräch über Grüne Geldanlagen ein. Wie geht das an diesem irren Kapitalmarkt? Und gibt es Alternativen, wenn man nicht in fossile Energien anlegen möchte? Bitte meldet Euch bei kreisverband@gruene-hochtaunus.de an.
Before Covid, German hotels had 34.6m tourist arrivals per year, of which 0.8m came from Russia (2.3%). By 2023, tourist arrivals had recovered to 30m. However, arrivals from Russia remain at 0.1m (0.3%) because the European Council suspended the EU's visa facilitation agreement with Russia.
May 10, 2025 at 12:43 PM
Before Covid, German hotels had 34.6m tourist arrivals per year, of which 0.8m came from Russia (2.3%). By 2023, tourist arrivals had recovered to 30m. However, arrivals from Russia remain at 0.1m (0.3%) because the European Council suspended the EU's visa facilitation agreement with Russia.
It is factually incorrect to label the AfD as a "one-issue party". In its election manifesto, the AfD calls for "the restoration of undisturbed trade with Russia, the immediate lifting of economic sanctions against Russia and the repair of the Nord Stream pipelines".
www.afd.de/wp-content/u...
www.afd.de/wp-content/u...
May 6, 2025 at 5:38 PM
It is factually incorrect to label the AfD as a "one-issue party". In its election manifesto, the AfD calls for "the restoration of undisturbed trade with Russia, the immediate lifting of economic sanctions against Russia and the repair of the Nord Stream pipelines".
www.afd.de/wp-content/u...
www.afd.de/wp-content/u...
Your narrative is not supported by empirical evidence. In polls, respondents consistently cited peace and security (45%), the economy (44%) and social security (39%) as the decisive issues in the election, with refugees and asylum coming fourth only (26%). www.forschungsgruppe.de/Umfragen/Pol...
May 6, 2025 at 5:11 PM
Your narrative is not supported by empirical evidence. In polls, respondents consistently cited peace and security (45%), the economy (44%) and social security (39%) as the decisive issues in the election, with refugees and asylum coming fourth only (26%). www.forschungsgruppe.de/Umfragen/Pol...
The biennial @kirchentag.bsky.social (www.kirchentag.de/en/about-kir...), an event as emblematic for Germany as the Oktoberfest is for Bavaria, provided an opportunity for many encounters, as @rosalaut.bsky.social reports. bsky.app/profile/rosa...
May 2, 2025 at 6:22 PM
The biennial @kirchentag.bsky.social (www.kirchentag.de/en/about-kir...), an event as emblematic for Germany as the Oktoberfest is for Bavaria, provided an opportunity for many encounters, as @rosalaut.bsky.social reports. bsky.app/profile/rosa...
A very moving moment as several thousand sang Matthias Claudius’ evening song “Der Mond ist aufgegangen” into the candlelit night at the @kirchentag.bsky.social in Hanover.
(photo by EKKW)
(photo by EKKW)
May 2, 2025 at 6:10 PM
A very moving moment as several thousand sang Matthias Claudius’ evening song “Der Mond ist aufgegangen” into the candlelit night at the @kirchentag.bsky.social in Hanover.
(photo by EKKW)
(photo by EKKW)
America alone – here’s my report from this year‘s IMF Spring Meetings, which allowed for memorable exchanges with Trump administration staff:
www.union-investment.com/expert-views...
(cartoon taken from Berkeley Political Review)
www.union-investment.com/expert-views...
(cartoon taken from Berkeley Political Review)
April 30, 2025 at 3:15 PM
America alone – here’s my report from this year‘s IMF Spring Meetings, which allowed for memorable exchanges with Trump administration staff:
www.union-investment.com/expert-views...
(cartoon taken from Berkeley Political Review)
www.union-investment.com/expert-views...
(cartoon taken from Berkeley Political Review)
The right-hand side shows the effects on the currency: when tariffs are increased, the supply of dollars on the world market falls, and with demand for dollars remaining the same, the exchange rate rises from E(G) to E(T) – as expected by Miran, Bessent and Dynan. [8/11]
April 21, 2025 at 10:14 AM
The right-hand side shows the effects on the currency: when tariffs are increased, the supply of dollars on the world market falls, and with demand for dollars remaining the same, the exchange rate rises from E(G) to E(T) – as expected by Miran, Bessent and Dynan. [8/11]
The chart on the left shows the impact of tariffs on the goods market. In autarky, a country must meet its entire demand from domestic supply; quantity A is sold at price A. With globalisation, the world supply becomes available. Prices fall from P(A) to P(G) and sales rise from Q(A) to Q(G). [6/11]
April 21, 2025 at 10:14 AM
The chart on the left shows the impact of tariffs on the goods market. In autarky, a country must meet its entire demand from domestic supply; quantity A is sold at price A. With globalisation, the world supply becomes available. Prices fall from P(A) to P(G) and sales rise from Q(A) to Q(G). [6/11]
Karen Dynan, Harvard professor and former chief economist at the US Treasury, was dismayed: ‘We teach our students that if you put down big tariffs, it’s going to raise the value of your currency, and instead, we’ve seen the value of our currency fall’ (youtu.be/52EDYC3M4eY). Why is that? [5/11]
April 21, 2025 at 10:14 AM
Karen Dynan, Harvard professor and former chief economist at the US Treasury, was dismayed: ‘We teach our students that if you put down big tariffs, it’s going to raise the value of your currency, and instead, we’ve seen the value of our currency fall’ (youtu.be/52EDYC3M4eY). Why is that? [5/11]
At the Senate hearing in January 2025 Bessent reiterated: ‘if we were to, say, [impose tariffs of] 10% – then traditionally the currency would appreciate by 4%’ (youtu.be/CuntYAJgais). The exact opposite happened: after tariffs were announced, the dollar fell from 1.04 to 1.14 per euro. [4/11]
April 21, 2025 at 10:14 AM
At the Senate hearing in January 2025 Bessent reiterated: ‘if we were to, say, [impose tariffs of] 10% – then traditionally the currency would appreciate by 4%’ (youtu.be/CuntYAJgais). The exact opposite happened: after tariffs were announced, the dollar fell from 1.04 to 1.14 per euro. [4/11]
This is precisely why Scott Bessent spoke out against tariffs in a noteworthy client letter in January 2024, arguing that ‘tariffs are inflationary and would strengthen the dollar’ (assets.realclear.com/files/2024/0...). [3/11]
April 21, 2025 at 10:14 AM
This is precisely why Scott Bessent spoke out against tariffs in a noteworthy client letter in January 2024, arguing that ‘tariffs are inflationary and would strengthen the dollar’ (assets.realclear.com/files/2024/0...). [3/11]
A little Easter thread on the many surprises the eleven trading sessions since Trump's Liquidation Day announcement have held for capital market participants – why has the dollar weakened in the face of rising tariffs and a rise in US yields relative to its trading partners? [1/11]
April 21, 2025 at 10:14 AM
A little Easter thread on the many surprises the eleven trading sessions since Trump's Liquidation Day announcement have held for capital market participants – why has the dollar weakened in the face of rising tariffs and a rise in US yields relative to its trading partners? [1/11]
Valuable life lesson: bullies blink.
April 19, 2025 at 10:00 AM
Valuable life lesson: bullies blink.
Steven Levitsky and @lucanway.bsky.social argue convincingly in @foreignaffairs.com that US democracy is likely to break down under the onslaught of the second Trump administration, which is weaponising the state to prosecute rivals, co-opt civil society and protect its allies from prosecution.
March 27, 2025 at 10:37 PM
Steven Levitsky and @lucanway.bsky.social argue convincingly in @foreignaffairs.com that US democracy is likely to break down under the onslaught of the second Trump administration, which is weaponising the state to prosecute rivals, co-opt civil society and protect its allies from prosecution.
This clear position has earned the @gruene.de unexpected praise from liberal lobby groups (www.linkedin.com/posts/insm_w...) and media outlets. In many ways, the Greens are the only remaining liberal and fiscally responsible party in parliament. (6/7)
March 12, 2025 at 2:04 PM
This clear position has earned the @gruene.de unexpected praise from liberal lobby groups (www.linkedin.com/posts/insm_w...) and media outlets. In many ways, the Greens are the only remaining liberal and fiscally responsible party in parliament. (6/7)
The Greens are saying: We’re happy to lift the hard budget constraint as long as it’s for additional public investment and defence, but what the CDU and SPD have tabled is a clientelist proposal to increase state consumption (tax breaks for commuters, subsidies for diesel, etc., see @diw.de). (5/7)
March 12, 2025 at 2:04 PM
The Greens are saying: We’re happy to lift the hard budget constraint as long as it’s for additional public investment and defence, but what the CDU and SPD have tabled is a clientelist proposal to increase state consumption (tax breaks for commuters, subsidies for diesel, etc., see @diw.de). (5/7)