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Marc Chandler 872 posts 0 comments

Marc Chandler joined Brown Brothers Harriman in October 2005 as the global head of currency strategy. Previously he was the chief currency strategist for HSBC Bank USA and Mellon Bank. In addition to frequently providing insight into the developments of the day to newspapers and news wires, Chandler's essays have been published in the Financial Times, Barron's, Euromoney, Corporate Finance, and Foreign Affairs. Marc appears often on business television and is a regular guest on CNBC and writes a blog called Marc to Market. Follow him on twitter.

Markets

What has changed in the emerging markets?

Marc Chandler Jun 6, 2013

This is what has changed in the EM space in, our view. 1) Brazil is stepping up its defences against market volatility. 2) Signs that China is looking for more (and better) sources of external funding sources is mounting. 3) Turkish…

Economy

Some thoughts on negative deposit rates at the ECB

Marc Chandler May 9, 2013

ECB President Draghi suggested last week that the central bank was taking a fresh look at the deposit rate. There does not appear to be any economist that thinks it is a good idea. The reasons vary, but the two main reasons are that it…

Markets

Portugal’s Step Forward

Marc Chandler May 7, 2013

This is an important day for Portugal. It is selling 10-year bonds for the first time in more than two years. Demand is reportedly strong. Today's 10-year sale follows the 5-year bond sale in January and heralds to full return of Portugal…

Economy

US employment surprise, but is it good enough?

Marc Chandler May 3, 2013

By Marc Chandler The US jobs report offered a pleasant surprise after the string of mostly disappointing data. Private sector employment rose 165k and the Feb and March series were revised up by 114k jobs. The 3-and 6-month averages now…

Markets

Draghi Open to Negative Deposit Rate Trumps Rate Cut to Drive Euro Lower

Marc Chandler May 2, 2013

ECB President Draghi confirmed the decisions made today to cut the main refi rate by 25 bp to 50 bp and cut the lending rate, the ceiling of its rate corridor, by 50 bp. Most importantly he seemed more open to a cut in the deposit rate and…

Markets

Who’s been buying Spanish debt?

Marc Chandler May 1, 2013

Spain's 10-year bond yield has fallen 108 bp this year. Just above 4%, the yield is the lowest Q4 2010. The 2-year yield has fallen 93 bp this year. The yield is slipping through 1.70%, for the first time Q2 2010. Recent data suggested that…

Political Economy

Enrico Letta’s Italy

Marc Chandler Apr 30, 2013

The first left-right coalition in Italy since 1946 has survived its first confidence motion in both chambers. As difficult as it may have been to break the political logjam, the hard work lies ahead for Prime Minister Letta.

Political Economy

Spain: Running from the Bulls?

Marc Chandler Apr 27, 2013

There have been three recent developments in Spain: the new record high unemployment, the earnings reports of several large banks, and the government's new fiscal forecasts and strategy. Spanish 10-year yields continued to trend lower…

Political Economy

Some thoughts on what’s next for Italy

Marc Chandler Apr 25, 2013

Italy is getting closer to putting together a grand coalition government. This has always seemed to us the most likely scenario, but the route to it has been circuitously torturous. Three considerations have led to President Napolitano…

Markets

Is Sweden concerned about the krona?

Marc Chandler Apr 19, 2013

The Swedish krona is somewhat firmer today but it is the biggest loser among the major currencies this week. It has lost about 2.3% against the dollar and 2.1% against the euro. According to Bloomberg, this is the single biggest weekly…

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