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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.

Political Economy

Italy: Economy Rotting as Focus all on Elections

Marc Chandler Jan 18, 2013

Unappreciated by many is the fact that the Italian economy has seen the largest contraction (7%) since the crisis began within the euro zone after Greece. Per capita income is back, according to former ECB's Bini Smaghi, to where it was in…

Economy

Larger US Trade Deficit to Weigh on Q4 GDP Estimates

Marc Chandler Jan 11, 2013

The November US trade deficit widened sharply and this will likely prompt economists to cut estimates of Q4 GDP. The first estimate is to be released at the end of the month. The pace of growth had appeared to be about half the pace of…

Political Economy

More on Abenomics: Japan’s Thermidor

Marc Chandler Jan 7, 2013

The rise of nationalism does not bode well for Japan's participation in the Trans-Pacific Partnership, an attempt to build a free-trade area covering both sides of the Pacific. Although it was somewhat controversial for the DPJ, it had…

Markets

Doves Rule at the FOMC

Marc Chandler Dec 12, 2012

By Marc Chandler The Federal Reserve was as aggressively dovish as any one expected. It added to QE $45 bln a month in US Treasuries, keeping the $40 bln of month of MBS purchases. It also changed from time reference for guidance to use of…

Markets

Portugal and Ireland: Us Too, Please

Marc Chandler Nov 27, 2012

By Marc Chandler Greece has had trouble implementing the structural reforms demanded in exchange for aid. The large and rising debt/GDP ratio is also a function of the larger than officially (Troika) expected contraction in the Greek…

Political Economy

Chart of the day: US deficit reduction 2009-2012

Marc Chandler Nov 22, 2012

By Marc Chandler This Great Graphic that shows that deficit reduction in the US over the past three years is largest in more than 60 years. I found it at the Investor's Business Daily, which of course, is not known for its leftist…

Markets

Australia: Manipulating by not Intervening?

Marc Chandler Oct 26, 2012

By Marc Chandler The Wall Street Journal brings to our attention the fact that the reserves at the Reserve Bank of Australia have risen sharply over the past two months. Its reserves have risen by A$863 mln over the past two months after…

Markets

Yen Bulls Spooked

Marc Chandler Oct 11, 2012

By Marc Chandler The dollar initially fell against the yen in the immediate knee-jerk reaction to S&P two-notch cut of Spain's sovereign rating. It dipped briefly below JPY78. However, it has rebounded smartly and is holding above…

Markets

The Swiss National Bank is Preventing Needed Adjustment

Marc Chandler Oct 10, 2012

By Marc Chandler The Swiss National Bank does not miss an opportunity to remind market participants that it is determined to cap the Swiss franc's appreciation. The cost of imposing its will appears to be rising. The Financial Times today…

Markets

Eight Drivers of the Foreign Exchange Market in the Week Ahead

Marc Chandler Oct 8, 2012

By Marc Chandler The US dollar and Japanese yen are starting the week on a firm note, despite their respective markets closed for holidays. The gains are concentrated against the major European currencies, with the dollar-itself little…

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