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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.
The combination of a 50 bp cut in China's required reserve ratios and anticipation that the European finance ministers sign off on the second aid package for Greece has lifted equity markets and most of the non-US dollar currencies.
Big weekend developments in China and Europe
There are two sets of important developments over the weekend that will influence the global capital markets. The first is in China and the second in Europe.
Italy has taken significant steps away from the abyss
Part of the rise of Italy under Monti is a function of how far it had slipped under Berlusconi. Another aspect of Italy's improvement is a function of the Monti's fellow countryman Draghi, who at the helm of the ECB has reversed Trichet's…
In Europe, the reasons to fear a Lehman-like event still seem compelling
There is plenty of room for policy error. The reasons to fear a Lehman-like event still seem compelling. European officials suggest the problem is the lack of implementation of reform and growth measures in Greece. No doubt there is an…
Europe Still Dominates the Headlines
The vagaries of Europe's debt crisis continues to be the most important driver of the short-term price action in the foreign exchange market. Indications that Greek New Democracy leader Samaras would sign a letter of commitment to the aid…
There is No Closure in Greece Whatsoever
Despite the Greek parliament's approval of austerity measures, there is still considerable uncertainty in the Greek situation. This post outlines many of the issues still up in the air.
The BOJ Surprises, Weakens Yen
Central banks' ability to surprise the market remains even in these trying times. It was the Bank of Japan's turn today. It surprised the market in two ways. First, it expanded its asset purchase plan by JPY10 trillion ($128 bln).…
French Elections Potentially More Momentous Then Greek Vote
Polls suggest that in the first round of balloting in late April, Sarkozy is trailing his Socialist challenger Hollande 31%-24.5%. Marina Le Pen's candidacy appears sufficiently strong to deny either candidate a majority in the first round.
Ten Observations To Start the Week
Ten thoughts on the economy and markets that include events in Greece, the US, Sweden, the EU and China.
Schrodinger’s Cat in Athens
The austerity regime being adopted throughout Europe, by surplus and deficit countries alike, amid deleveraging, begs the question of where will aggregate demand come from? Moreover, iIf Greece can lower its debt burden by transferring some…