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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

Weekend Developments and Their Significance Going Forward

Marc Chandler Nov 27, 2011

There have been several important developments over the weekend which are likely to support the euro at the start of the week, after falling for the past four consecutive weeks and recording a 7-week low before the weekend. However, I…

Political Economy

Euro Pressures Mount–Necessary for Eventual Resolution

Marc Chandler Nov 25, 2011

Those that call for the ECB to substantially increase its sovereign bond purchases, or for Germany to agree to euro bonds, want the opposition to unilaterally disarm. They insist on putting the cart before the horse. In effect, under…

Political Economy

Fiscal union is the only real solution

Marc Chandler Nov 23, 2011

A headline says that an investment bank survey found almost half the respondents expect at least one country to drop out of the euro zone next year. This is twice the percentage of a couple of months ago. While such a scenario cannot be…

News

Euro Punched Lower by Series of Jabs

Marc Chandler Nov 23, 2011

What was to be a subdued period in the markets is turning into a rout. There have been a number of poor developments that have sent the US dollar broadly higher and has weighed on the highly correlated risk assets, equities, emerging market…

Political Economy

IMF is Lender of Last Resort to Sovereigns

Marc Chandler Nov 22, 2011

Many observers are confused. They cry for the ECB to "man up" and "do what it is supposed to do" and be the lender of last resort. It does have that function for banks, not for sovereigns. The lender of last resort to sovereigns is the…

Economy

Euro bank funding, collateral, and outlook

Marc Chandler Nov 22, 2011

Bank borrowing from the ECB reach a new high for the year at today's 7-day repo operation. Banks borrowed 247.17 bln euros for a week at 1.25% fixed rate. The key question is what are banks doing with those euros. The answer is that…

Markets

Dollar Softer Amid Consolidation

Marc Chandler Nov 22, 2011

The US dollar is trading with a softer bias in what largely appears to be a consolidation. The euro held support near $1.34, sterling near $1.56 and Aussie near $0.9800. The news stream is light and corrective forces are seen in equities,…

Markets

The Four Key Issues that are Dividing Europe

Marc Chandler Nov 21, 2011

First, there is a disagreement about whether the ECB should be buying a significant amount of European bonds. Second, there is a disagreement over whether the ECB should declare that is it buying bonds for an extended period or unlimited…

Markets

Dollar Bid as European Woes Dominate

Marc Chandler Nov 21, 2011

News that the US super committee failed to reach an agreement has done little to eclipse the negative impulses coming from Europe. Rajoy won no honeymoon in Spain despite achieving an outright majority in parliament. Spain's 10-year bond…

Political Economy

Spain: Fifth Government in Periphery Falls

Marc Chandler Nov 20, 2011

New governments in Greece and Italy have brought no real relief to the financial markets. There are forces in motion that are not about which personality or interest group is implementing the various austerity programs. Spain is…

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