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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.
Uncertainty over the participation in the Greek bond swap is a major source of anxiety today. Rumors circulated earlier that the PSI "invitation" would be extended by a week due to low participation have been officially denied, but rumors…
Markets Brace for Poor Developments
The US dollar is broadly higher against most of the major and emerging market currencies amid concern that the Greek PSI will not see sufficient participation to avoid the triggering of the collective action clauses or worse. At the same…
The Tragedy that is Spain
The devolution in Spain is particularly troubling. The new fiscal compact had just been signed last week, which includes somewhat more rigorous fiscal rule and enforcement, when Spain's PM Rajoy revealed that this year's deficit would come…
Euro and Yen: Looking for a Black Cat in a Dark Room
Never known for being easy, the euro and yen seem particularly difficult to understand presently. During such times it is often best to return to basics. Foreign exchange reflects the cost of money. So do interest rates. The relationship…
Don’t Lose Sleep over China’s Fewer Treasury Holdings
Revisions to the holdings of US Treasuries have set the chins wagging. The key focus is on China's holdings of Treasuries.
Why Portugal
Portugal's aid package assumes it can return to the capital markets in the second half of last year. This seems less likely with each passing day.
Collective European Bonds Exist
By Marc Chandler There are many voices that continue to clamor for a European bond; one that is backed collectively by the various members. Germany and the other creditor nations are understandably skeptical especially without greater…
G20: Little Scope for New Initiatives
The G20 will meet in Mexico this weekend. There seems to be three key issues: IMF funding, replacement for Zoellick, who will step down as head of the World Bank, and the oil shock. It is unlikely that any of these issues are resolved at…
Four Key Economic Developments and Their Market Implications
There have been four noteworthy developments today that will shape the investment environment.
Greek Default Risks Remain
The official creditors won the battle. Greece will be given the money so that they can service their debts. They will have an EC task force embedded into Greece to push for compliance and the escrow-like account ensures a priority to debt…