Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
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.
We have been closely monitoring the firewall that has appeared to protect Spain from the other Portugal (Ireland and Greece). Recent developments appear to be weakening that firewall and pressure is mounting on Italy now as well. It is…
Contagion Fears and China Hike Spur Dollar Demand
Dollar is broadly firmer for the second day on euro zone periphery issues; China hikes rates by 25bp. Safe havens are bid again as downgrade of Portugal fuels concerns over status of Ireland’s rating. Brazil Finance Minister Mantega…
Negative News Flow Sours Sentiment
Dollar is broadly stronger amid concerns over Greek debt rating, China tightening; stocks mixed. S&P warns plan for Greece is likely default; ECB to accept collateral unless all agencies rule default. RBA on hold, Riksbank hikes by…
Tankan and Beyond
Japan is set to release a slew of economic data on July 1. Of these the jobless rate is probably the least important. It is lagging indicator, though softness in the job-to-applicant ratio would warn of no quick improvement. On the other…
Now What?
As had been anticipated, the Greek parliament has approved the austerity measures along party lines. The parliament will vote on the implementation bill tomorrow. This may be a bit stickier, but it too is likely to pass. Assuming so,…
Market Update: Greece Austerity Vote, Chinese Rate Hike
Dollar is mostly weaker against the majors into Greek austerity vote; global equities rally strongly. The euro remains firm near $1.444 ahead of vote; momentum likely to continue but hurdles remain. Rumors of a potential Chinese rate hike…
Correlation between Currencies and S&P500
As the Q2 winds down, it may be useful to review the recent correlations between some of the major currencies and the US S&P 500. The correlation calculations are conducted on the basis of percentage change of the currency and the…
Thoughts on the French Restructuring Plan for Greece
If the EU/IMF does this for Greece why not Ireland and Portugal? It is difficult to envision Ireland being able to go back to the markets next year as originally intended. Therefore, it too will likely require another round of assistance.…
More on US Money Markets As a Channel of Contagion
There has been a net withdrawal from US money market funds and it appears that the funds have moved to strictly US Treasury or US high grade money market funds. Banks appear to be responding by hedging/securing funding through yen swaps. In…
Currency News: Greek Austerity Deal, China Inflation Policy
Dollar broadly mixed as the uncertainty over the Greek persist; German IFO beats expectations. News of a Greek austerity deal with EU-IMF are positive but risk surrounding austerity vote remain. China said efforts to stem inflation are…