Author

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

More Thoughts about Japan and US Treasuries

Marc Chandler Jan 18, 2018

If China wants to accumulate reserves, it will have to buy US Treasuries, even if not every month. Japanese institutional investors are thought to be attracted by the high yields available in the US Treasury market. But, the wider…

Markets

The Yuan’s Reserve Currency Status

Marc Chandler Jan 16, 2018

There is nothing quite like a falling dollar to spur take of the erosion of the greenback's reserve status. For various reasons, countries have chosen to build reserves. Following the decision to hold or build reserves, the question arises…

Economy

Accommodative Officials and Synchronized Upturn Drive Markets

Marc Chandler Jan 7, 2018

The investment climate is being shaped by two powerful forces. First is the very accommodative policy stance. In addition to the accommodative monetary policy, fiscal policy is also supportive.

Political Economy

Italian Election–Two Months and Counting

Marc Chandler Jan 4, 2018

Italy's election has the potential for some surprises. The Five Star Movement, which is polling first in surveys, has pledged a referendum on the euro if Brussels does not change its fiscal rules. Berlusoni's Forza Italia and Salvini's…

Political Economy

The Importance of China’s New VAT

Marc Chandler May 2, 2016

Yesterday, China announced one of the most important tax reforms of the past twenty years. It is replacing a business tax on gross revenue for non-manufacturing companies with a VAT. Manufacturing companies have been subject to a VAT…

Political Economy

Britain, Brexit, and sovereignty

Marc Chandler Feb 22, 2016

A destabilized Europe adversely impacts the UK within or without the EU. The UK is tied to Europe in ways that leaving the EU will not sever. Ironically, the UK may find it has less sovereignty if it leaves the EU than within it.

Political Economy

This is the Framework of a Potential Greek Compromise Taking Shape

Marc Chandler Jun 18, 2015

By Marc Chandler Through the venomous comments and erosion of trust, the broad framework of what couple prove to be a workable compromise over Greece's financial crisis may be emerging. This is not to suggest that the eurozone finance…

Political Economy

Moral Hazard Taken Too Far

Marc Chandler Apr 22, 2015

There is an element that links the terrible human tragedy in the Mediterranean and the ongoing Greek crisis. It is Europe's over-emphasis on moral hazard.

Political Economy

Greece: Irresistible Force Meets Immovable Object

Marc Chandler Apr 22, 2015

Greece is expected to submit a more complete list of reforms in order to free up funds so the country can service its obligations. Four times the Greek government has provided lists and four times the European group of finance minister…

Political Economy

Spain may not be Greece, but it is Not the Opposite Either

Marc Chandler Apr 9, 2015

The important point is that returning to growth after the crisis may not be sufficient to facilitate political stability. The damage to the middle class is serious and Rajoy does not appear to appreciate that. The economic cost of…

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